Mon, 22 Apr 2024 Today's Paper

Rupee ends firmer on inward remittances

By

9 September 2016 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS: The Sri Lankan rupee ended firmer yesterday as late inward remittances ahead of the annual Haj pilgrimage surpassed the mild dollar demand from importers, dealers said.


The spot rupee ended at 145.00/15 per dollar, compared with Wednesday’s close of 145.40/45. One-week forwards were quoting at 145.15/30, compared with previous day’s close of 145.65/70, but were not traded as the spot was actively traded.


The spot rupee is usually managed by the Central Bank, and market participants use the forward market levels for guidance on the currency.
“There were inward remittances in the latter part of the day ahead of the festival,” a currency dealer said, asking not to be named.


Muslims in Sri Lanka will celebrate Eid al-Adha on Monday. 
Dealers said seasonal importer demand would pick up from mid-October. Central Bank Governor Indrajith Coomaraswamy said last week that the currency was not under upward pressure as capital inflows had not been of sufficient magnitude to exert such pressure.
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 and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine 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




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