Rupee ends lower on importer dollar demand

The Sri Lankan rupee ended 0.2 percent weaker yesterday as importer dollar demand surpassed exporter sales of the U.S. currency, dealers said.
The spot rupee ended at 145.70/85 per dollar, against Tuesday’s close of 145.38/43. One-week forwards were at 145.90/146.05, compared with the previous day’s close of 145.60/70.
The spot rupee is usually managed by the Central Bank and market participants use the forward market levels for guidance on the currency.
“Rupee is under pressure on importer demand and some other outflows,” a currency dealer said, asking not to be named.
Dealers said seasonal importer demand would pick up from mid-October.
The Central Bank has largely not intervened to defend the rupee ever since a dual-tenure sovereign bond issue raised US $ 1.5 billion in July. 
REUTERS