The Sri Lankan rupee ended firmer in one-week forwards on Friday, as foreign banks sold dollars on behalf of offshore investors to buy local bonds, 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. Dealers said the central bank did not intervene for the fourth straight session since the appointment of the new central bank governor.
The rupee in one-week forwards, which have been acting as a proxy for the spot rupee, ended at 146.00/10 per dollar, stronger than Thursday's close of 146.15/30.