Wed, 08 Dec 2021 Today's Paper

Rupee ends weaker on importer dollar demand

21 June 2017 09:32 am - 0     - {{hitsCtrl.values.hits}}


REUTERS: The Sri Lankan rupee ended weaker yesterday as dollar demand from importers weighed on the spot currency, which traded for a second straight session after six weeks. The spot rupee started trading on Monday for the first time since May 5 when the Central Bank fixed the spot reference rate at 152.50. The spot rupee ended at 153.30/40 per dollar, weaker from Monday’s close of 153.18/23.
“There was some (dollar) buying, but not large volumes. There was general importer demand,” said a currency dealer, requesting anonymity. Dealers said they expect seasonal demand for dollars to pick up from August.
The Central Bank has set a target of US$1.2 billion in direct market purchases of dollars to boost the island nation’s reserves this year, mainly to achieve a target set by the International Monetary Fund in return for a three-year US$1.5 billion loan.

Foreign investors bought a net Rs.7.93 billion (US$51.8 million) worth of government securities in the week ended June 14. They have sold a net Rs.32.03 billion worth of government bonds so far this year. 


  Comments - 0

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

A Sri Lankan giving dignified burials to unclaimed bodies for five decades

After their death, most people are memorialized at a service, surrounded by g

Focus on Laggala Gem mining big shots bigger than the law

The truth is now being uncovered regarding an illegal mining racket in state

How and why the TNA was formed twenty years ago

The Tamil National Alliance (TNA) is now twenty years of age. The premier pol

India lays emphasis on culture diplomacy with Sri Lanka

Indian Prime Minister Narendra Modi wanted to inaugurate the Kushinagar Inter