The Sri Lankan rupee closed marginally weaker on Thursday as importer demand for the greenback outpaced inflows from remittances and dollar conversions by exporters, dealers said. Also, weighing on sentiment were dollar purchases by state-controlled banks in the absence of central bank intervention to curb the fall in the rupee, they added. Rupee forwards were active, with one-week forwards closing at 150.70/90 per dollar, compared with Wednesday's close of 150.50/90.
Foreign investors net sold 52.3 billion rupees ($350.77 million) of government securities in the eight weeks ended December 14. "The central bank is also keeping away from intervention. So, we see banks buying with the available offers with no directions," said a currency dealer, asking not to be named.