Sri Lankan five-day rupee forwards ended firmer on Thursday as dollar selling by a state bank outweighed heavy demand for the greenback by importers, dealers said. The forwards, which act as a proxy for the spot currency and are called spot next, hit 145.00 per dollar before closing at 146.20/70 per dollar, firmer than Wednesday's close of 149.25/35.
The spot rupee, which has not been active since January 27, did not trade. The central bank has fixed the spot trading price at 143.90 through moral suasion, dealers said. The one-week forwards, which have been active since January 27 and were hovering near record lows, did not actively trade on Thursday, dealers said. The rupee has been under pressure due to foreign investors exiting government securities and amid the country's economic woes.
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