Sri Lankan rupee one-week forwards ended weaker on Friday due to mild dollar demand from importers while dealers said the rupee was under pressure due to lack of exporter dollar conversions and moral suasion by the central bank, which is holding the currency at current levels.
One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee in the absence of trade in three-day forwards on Friday, ended at 145.90/146.10 per dollar, weaker from Thursday's close of 145.35/60. The central bank reduced the spot rupee's peg to 144.50 per dollar on Friday, from 144.75 in the previous session. The spot rupee was not traded for a fourth straight session on Friday, dealers said.
On Monday, the spot closed at 144.85/95 per dollar.
The spot rupee has been pegged down from 145.75 levels in early June after the local currency rose following increased dollar conversions by exporters and overseas funds.