Sri Lankan rupee forwards ended weaker on Thursday on light importer dollar demand and dealers expect downward pressure on the currency to persist after the central bank in a surprise move on Wednesday cut key monetary policy rates to record lows. Actively traded two-week forwards ended at 133.90/95 per dollar, down from Wednesday's close of 133.78/85, while one-week forwards closed steady at 133.60 per dollar amid moral suasion by central bank.
Dealers said one-month forwards finished at 134.15/25 per dollar, compared with the previous close of 134.05/15. "Unless the central bank boosts the reserves either through inflows or borrowing, it will be difficult to prevent the fall of the rupee," a currency dealer said on condition of anonymity.