The Sri Lankan rupee ended steady on Tuesday as dollar sales by exporters were offset by importer demand for the US currency, dealers said. The spot rupee ended at 145.50/55 per dollar, unchanged from Monday. "Exporter (dollar) sales were there. But the rupee ended steady as a state bank bought dollars to cover some import bills including a petroleum one," a currency dealer said, asking not to be named.
The spot rupee is usually managed by the central bank, and market participants use the forward market levels for guidance on the currency. Since a $1.5 billion inflow from a dual-tenure sovereign bond issue, the central bank has largely not intervened in the currency market to defend the rupee. Central bank officials were not available for comment.