COLOMBO: The Sri Lankan rupee traded nearly unchanged from the 7-week low touched on Thursday as exporter dollar sales and remittances kept pace with demand for the greenback from importers, dealers said.
The rupee, was trading at 130.28/30 per dollar at 0710 GMT, only a tad firmer from Thursday's close of 130.28/31, which was its lowest closing since July 21.
"Rupee is firmer on remittances and exporter conversions; we have seen a state bank selling dollars at 130.28 to select small trades," said a currency dealer asking not to be named.
Dealers said there has been a pick-up in imports ahead of the 2015 budget scheduled for November, but they expect the rupee to appreciate in the long term.
The Central Bank of Sri Lanka (CBSL) will absorb the proceeds of National Savings Bank's (NSB) $250-million bond sale, an official at the banking regulator said on Wednesday.
Sri Lankan shares were up 0.27 percent at 0716 GMT, or 19.13 points, at 7,218.38, its highest since June 13, 2011.
Turnover was 1.21 billion Sri Lankan rupees ($9.29 million), with 84.28 million shares changing hands.
Comments
Comments are closed for this article.