COLOMBO Oct 17 The Sri Lankan rupee closed
steady for a third straight session on Monday as dollar demand
from importers offset exporter sales of the U.S. currency in the
absence of central bank intervention, dealers said.
However, dealers expect the currency to be under downward
pressure due to seasonal importer dollar demand until mid
The spot rupee finished steady at 146.90/95 per
"The currency will be under downward pressure due to
seasonal imports until mid-December, and then we might see it
settling with exporter sales and remittances," a currency dealer
said, asking not to be named.
Another dealer said the rupee forwards were traded in
thin volumes in the latter part of the day.
The spot rupee is usually managed by the central bank, and
market participants use the forward market levels for guidance
on the currency.
The spot rupee was steady last week after two weeks of
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 Amrutha Gayathri)