COLOMBO, Oct 31 (Reuters) - The Sri Lankan rupee
strengthened to a near one-week high on Thursday as exporters
sold dollars, but downward pressure on the currency is expected
in the near term because of the year-end seasonal demand,
The spot rupee closed at 130.85/92 per dollar, its
highest since Oct. 25 and firmer than Wednesday's close of
Dealers said year-end import demand for dollars could put
downward pressure on the local currency.
The currency, which appreciated 0.4 percent last week on
foreign buying in the rights issue of Sri Lanka's biggest
conglomerate John Keells Holdings Plc, hit a near
four-month closing high on Oct. 24.
The rupee hit a record low of 135.20 on Aug. 28, but has
managed to stem further losses and is up 3.29 percent since
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by