Tue, 31 Jan 2023 Today's Paper

Rupee ends higher on exporter dollar sales

20 April 2018 10:17 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS: The Sri Lankan rupee ended higher yesterday, a day after the local currency hit a record low, as greenback sales by exporters outpaced dollar demand from importers, dealers said.


The rupee which was traded at 156.12 per dollar in the early trade ended at 156.20/35, slightly firmer from Wednesday’s close of 156.30/40.\


The rupee hit an all-time low of 156.50 intraday in the previous session.

 

“The rupee appreciated as there were some exporter (dollar) sales in the morning. We saw some demand in the latter part of the day,” a currency dealer said.


Earlier this month, the country’s Central Bank Governor said if the inflation rate could be maintained between 4 percent and 5 percent, the depreciation in the rupee would be around 2 percent or 3 percent.


Dealers said they expected no impact from the US$2.5 billion inflow anticipated later this week in two tranches of sovereign bonds, the country’s largest offering in history.


The Central Bank has bought around US$400 million from the market in the first three months of this year to help build reserves and repay some debt.


The rupee has weakened 1.73 percent so far this year. It dropped 2.5 percent last year and 3.9 percent in 2016.


Dealers said they expect the rupee to gradually weaken and face higher volatility this year due to debt repayments by the government.


Foreign investors sold government securities worth a net Rs.2.4 billion (US$15.36 million) so far this year through April 11, the Central Bank data showed.

 

 


Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

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




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Sending Money,Online Books, Delivery Service, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop Sri Lanka

Health System in the emergency room

Sandya Kumari from Kotahena has been experiencing chest pains since 2015 and

Canada’s targeted sanctioning of Gota and Mahinda

History was made last week when two former executive presidents of Sri Lanka

SC judgement on Easter attack: Court rules negligence stood in the way of avoiding most heinous crime

“On the ill-fated day of 21st of April 2019, this island home was awoken ru

Lasantha was a Fearless Editor who Spoke Truth to Power

Friends,Family members, colleagues, schoolmates and admirers of Lasantha Wick