Sri Lanka rupee at over 1-week low on importer dollar demand
COLOMBO Dec 12 (Reuters) - The Sri Lankan rupee closed at its lowest level in more than a week on Thursday on importer dollar demand ahead of a long weekend, but the market was sluggish as most investors were in a holiday mood, dealers said.
The spot rupee was at 130.90/95 per dollar at 0550 GMT, its lowest closing level since Dec. 2. It closed at 130.80/90 on Wednesday.
"The rupee is weaker on importer dollar demand and we have not seen exporter dollar conversions also," a currency dealer said.
The currency has gained nearly 0.4 percent in seven straight sessions through Monday.
Central Bank Governor Ajith Nivard Cabraal said on Tuesday the monetary authority will only go in for limited intervention to prevent high volatility in the currency.
Cabraal said last week that the rupee was expected to remain steady at current levels with most inflows being remittances.
Currency dealers said the rupee was facing upward pressure as expatriates were sending money for their families ahead of Christmas and the New Year.
The rupee has gained 3.32 percent since it hit a record low of 135.20 on Aug. 28. (Reporting by Ranga Sirilal; Editing by Anupama Dwivedi)