Sri Lankan rupee forwards rose on Friday as dollar conversions by foreign investors and banks surpassed importer demand for the US currency, dealers said. The spot rupee, which was traded actively for a third straight day, also rose, they added. Dollar/rupee forwards, known as spot next, were at 145.00/05 per dollar, compared with Thursday's close of 145.53/63.
Spot next, which acts as a proxy for the spot currency, indicates the exchange rate for the day following conventional spot settlement, which is five days ahead for Friday's trade. Dealers said the spot currency, which on Wednesday started trading actively for the first time since January 18, was active for a third straight day on Friday. The spot rupee ended at 144.95/145.05 per dollar, compared with Thursday's close of 145.50/60.
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