COLOMBO, March 18 (Reuters) - The Sri Lankan rupee rose on
Tuesday as inflows from inward remittances outpaced importer
dollar demand, dealers said.
The spot rupee ended at 130.58/64 per dollar,
compared with Monday's close of 130.63/70.
"Normal remittances amid lack of importer dollar demand
pushed the rupee up," said a currency dealer on condition of
Contrary to market expectations, the local currency has been
gaining ahead of the traditional new year in April. Usually, the
rupee falls in March and early April due to higher import demand
ahead of the Sinhala-Tamil new year. However, dealers said they
are yet to see higher import demand.
The currency has gained 0.33 percent in the last 14 sessions
through Tuesday, Thomson Reuters data showed. It has been on a
rising trend since Feb. 27 amid weak demand for dollars from
importers, dealers said.
Dealers said the rupee was expected to trade in a range of
130.50 to 130.75 in the near term.
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by