Oct 28 (Reuters) - The Sri Lankan rupee fell to a one-week low on Monday on importer dollar demand, with the market expecting the currency to depreciate slightly in the near term due to project-related imports, dealers said. The currency, which appreciated 0.4 percent last week on foreign buying in John Keels Holdings' rights issue, on Monday further moved away from a near four-month closing high hit last week. The spot rupee traded at 130.90/131.00 per dollar at 0508 GMT, a level last touched on Oct. 21, and lower than Friday's close of 130.55/65. Dealers said foreign buying in conglomerate John Keells Holdings has helped boost the currency for much of last week. The company is raising $299 million by selling rights and warrants to fund a $850 million resort project. The deadline to raise the money was Friday. Dealers said the rupee has started to depreciate with the rights issue coming to an end on Friday. Central Bank Governor Ajith Nivard Cabraal told Reuters on Wednesday the rupee was under appreciation pressure and the central bank had been intervening to curb a sharp rise. On Thursday, Cabraal again told Reuters that the central bank was buying dollars. Dealers later confirmed that two state banks, through which the central bank usually directs the market, were seen buying dollars at 130.60 rupees. The rupee hit a record low of 135.20 on Aug. 28, but has managed to stem further losses and is up 3.53 percent since then. Sri Lanka's main stock index, was trading 0.18 percent, or 10.81 points, weaker at 5,937.94, by 0517 GMT. (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil Nair)

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