Sri Lankan rupee gains

The Sri Lankan rupee ended higher on Wednesday as exporter dollar sales surpassed importer demand for the greenback after the central bank said it was in advance talks with China Development Bank for a $200 million swap. However, dealers expect the rupee to be under pressure till seasonal inward remittances begin. Rupee forwards were active while spot-next forwards ended at 148.90/149.00 per dollar, compared with Tuesday's close of 149.15/25.
"There was month-end selling (of dollars) today and no major demand (for dollars)," said a currency dealer, asking not to be named. The spot rupee was hardly traded, but was quoted at 148.40/149.00.