The Sri Lankan rupee forwards ended slightly higher on Monday as dollar inflows into some government securities outpaced importer demand for the greenback, while moral suasion by the central bank prevented a fall in the spot currency, dealers said. Traders said the local currency may face pressure as imports continue to rise in a stable exchange rate regime.
The spot currency ended flat at 130.90/131.00 per dollar. Dealers were reluctant to trade the spot below 130.90 due to moral suasion by the central bank. Three-day forwards, or spot next, which were actively traded because of moral suasion on the spot rupee, ended little higher at 130.98/131.03 per dollar compared with Friday's close of 131.00/131.10.
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