Wed, 08 Feb 2023 Today's Paper

Rupee ends steady; state bank dollar sales cap fall

By

21 September 2016 12:02 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS: The Sri Lankan rupee ended steady yesterday as a state bank sold dollars after the local currency fell due to importer greenback demand, with traders unwilling to trade the rupee below the level desired by the Central Bank, dealers said. Dealers said the rupee strengthened earlier in the session due to state bank dollar sales. The spot rupee ended at 145.90/146.30 per dollar, little changed from Monday’s close of 145.90/146.00.


“The rupee is under pressure mainly because of lack of (dollar) supply to meet importer demand. A state bank sold when the spot started to trade below 146.00,” said a currency dealer, asking 
not to be named.

The Central Bank’s moral suasion largely prevented spot trades below 146.00, the dealer said.
Rupee forwards, spot-next-next ended at 146.25/35, compared with the previous close of 145.95/146.05.


The spot rupee is usually managed by the Central Bank and market participants use the forward market levels for guidance on the currency.
Dealers had expected seasonal importer demand to 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. 

 


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

Pain and punishment

Should we spare the rod and spoil the child? Does it really happen? Children

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