Sri Lankan five-day rupee forwards dropped lower Tuesday on importer dollar demand even as a state-run bank prevented further falls in the currency by selling the greenback, dealers said. The forwards, which are known as spot next and act as a proxy for the spot currency, ended at 146.50/60 per dollar, compared with Monday's close of 145.85/146.00. "Demand (for dollars) is there. A state bank sold dollars from 146.20 to 145.70," said a currency dealer requesting not to be named. The spot rupee, which has barely witnessed any trading since January 27, was not actively traded on Tuesday as well.
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