COLOMBO: The Sri Lankan rupee was steady on Wednesday despite importer dollar demand and foreign outflows from t-bonds, as banks were reluctant to trade below the 144.00 level desired by the central bank, dealers said.
"We saw foreign investors selling some bonds," a dealer said asking not to be named. Another dealer said there was importer dollar demand and nobody was trading the spot rupee below 144.00.
The rupee forwards and swaps were actively traded on Wednesday, the second dealer said.
Dealers said the one-week forward, which acted as a proxy for the spot currency, traded steady at 144.30/50 per dollar.
The rupee is under pressure despite a 150-basis-point increase in commercial banks' statutory reserve ratio with effect from Jan. 16. The central bank kept its key policy interest rates unchanged on Monday.
Sri Lanka's main stock index was 0.07 percent weaker at 6,318.53 at 0644 GMT. Turnover stood at 492.9 million rupees ($3.4 million).
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