COLOMBO Oct 13 The Sri Lankan rupee closed
steady on Thursday as two state-run banks bought dollars sold by
exporters, while the central bank did not intervene to manage
the spot currency, dealers said.
The spot rupee is tightly managed by the central bank and
market participants use the forward market levels for guidance
on the currency.
The spot rupee, which was active on Thursday,
closed unchanged at 146.90/95 per dollar.
Rupee forwards were not as active as in the past four
sessions, with the spot-next ending at 146.91/146.98, compared
with the previous close of 147.00/05.
Dealers said they expected downward pressure on the currency
due to a pick-up in seasonal imports through mid-December.
The rupee has been under pressure due to dollar demand by
importers, and has fallen a little over 1 percent in the past
two weeks, Thomson Reuters data showed.
The central bank has been buying dollars from the market to
accumulate reserves to meet targets set by the International
Monetary Fund under a $1.5-billion loan deal, dealers said.
Officials at the central bank were not available for
($1 = 146.3700 Sri Lankan rupees)
(Reporting by Shihar Aneez; Editing by Biju Dwarakanath)