Sun, 25 Jul 2021 Today's Paper

Rupee weaker on importer dollar demand; stocks gain

8 April 2017 12:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS: The Sri Lankan rupee traded slightly weaker in dull trade yesterday as importer dollar demand and dividend payments outpaced inward remittances and dollar sales by exporters ahead of the festival session, dealers said.
Rupee forwards were active, with two-week forwards trading at 152.65/75 per dollar at 0653 GMT, compared with Thursday’s close of 152.60/70. The Central Bank on Wednesday cut the spot rupee reference rate by 10 cents to 151.60, dealers said. “We have seen some importer (dollar) demand and some dividend or royalty payments going through a couple of foreign banks,” said a currency dealer who did not wish to be named.

The rupee has been under pressure due to increased seasonal imports ahead of the traditional New Year later next week, although dealers expect the pressure to ease with seasonal inward remittances.
Outflows due to rupee bond sales by foreign investors have also been pressuring 
the currency.
Foreign investors net sold government securities worth Rs.950 million ($6.3 million) in the week ended March 29. They have net sold Rs. 64.2 billion of such instruments so far this year.
Sri Lankan shares were up 0.8 percent at 6,297.90 as of 0655 GMT. Turnover stood at Rs.1.27 billion ($8.4 million).

 

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.