Reply To:
Name - Reply Comment
Last Updated : 2024-03-28 14:21:00
Reuters - The Sri Lankan rupee ended marginally weaker yesterday as importer dollar demand surpassed mild selling of the U.S. currency by exporters, dealers said.
The spot rupee ended at 145.38/43 per dollar, down from Friday’s close of 145.25/35. One-week forwards ended at 145.60/70, compared with the previous day’s close of 145.50/60.
Markets were closed on Monday on account of Eid al-Adha. The spot rupee is usually managed by the Central Bank, and market participants use the forward market levels for guidance on the currency.
“The importer demand was there today and there are not much exports. The remittances have also dried out,” a currency dealer said, asking not to be named.
The rupee strengthened 0.28 percent on Thursday on inward remittances ahead of Eid al-Adha.
Dealers said seasonal importer demand would pick up from mid-October.
The Central Bank has largely not intervened to defend the rupee ever since a dual-tenure sovereign bond issue raised $1.5 billion in July.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
Though the Government imposed VAT (Value Added Tax) on vegetables and other e
Saving energy has become more of a responsibility than a habit in today’s c
In the coming days, Muslims across the world will welcome the Holy Month of R
As of February 2024, Sri Lanka lost another 38 elephants as a result of the H