Mon, 26 Jul 2021 Today's Paper

Rupee ends thin session weaker, seen under pressure

3 January 2017 08:49 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS: The Sri Lankan rupee closed weaker in its first session of the year yesterday as a lack of inflows weighed on sentiment, dealers said.
The currency fell 3.9 percent in 2016. Rupee forwards were active, with one-month forwards ending slightly weaker at 150.95/151.00 per dollar compared with Friday’s close of 150.75/85.
One-week forwards traded at 150.10/25 per dollar while spot-next forwards and the spot rupee were hardly traded, dealers said.
“The rupee is under pressure and it will continue to slide if we don’t see steady inflows,” said one currency dealer. On Friday, the Central Bank raised the spot currency reference rate to 150.00, a record low against the dollar.

The banking regulator raised the spot reference rate by a total of 50 cents last week. That followed a 40-cent increase in each of the previous two weeks amid sustained pressure on the currency.
Officials from the Central Bank were not immediately available for comment.
The bank kept its benchmark interest rates steady on Friday for a fifth straight month as expected, saying credit growth was responding to earlier tightening measures.
Dealers said the market was bracing for some depreciation in the rupee in January after the Central Bank said this would not necessarily be negative for the economy. 

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into 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


Basil Rajapaksa’s catch 22 situation

Sri Lankan politics has been a good deal of family business. It was not even

“This govt. printed Rs. 880 billions”

This is the roadmap of Zimbabwe

“We are on the cusp of a mothers-led movement for better birth rights in Sri Lanka” – Kanya D’Almeida

Writer Kanya D’Almeida became the first Sri Lankan to win the ‘Commonweal

Two diametrically opposite shows in a military regime

On July 8 (Thursday) we saw diametrically opposite results because the securi



See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.