“We see the Central Bank’s instruction on the spot rupee. But the spot-next was traded without any intervention,” 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.

Officials from the Central Bank were not available for comment.

Another dealer said foreign selling in government securities also put pressure on the currency.

Foreign investors sold Rs. 8.79 billion ($ 59.84 million) worth of government securities in the week ended 19 October, data from the Central Bank showed.

Dealers said the market was waiting for some direction from the national budget due on 10 November.

Source: http://www.ft.lk/article/575928/Rupee-down-on-importer-dollar-demand