The Sri Lankan rupee ended firmer on Wednesday, helped by exporter dollar sales and inward remittances but importer demand for the greenback from a state bank weighed on the sentiment, dealers said. Rupee forwards were active, with two-week forwards ending at 152.55/65 per dollar, compared with Tuesday's close of 152.70/80.
"There was some selling by a foreign bank. We have seen some inward remittances ahead of the festive season and seasonal (importer) demand has largely covered. Besides, state bank's demand for dollar was also there," said a currency dealer, requesting anonymity.The rupee has been under pressure due to dollar demand to meet increased seasonal imports ahead of the traditional new year in April, dealers said.
Copyright Reuters, 2017
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017