The Sri Lankan rupee recovered from early falls and closed slightly firmer on Wednesday as late inward remittances surpassed mild dollar demand from importers, dealers said. Rupee forwards were active, with spot-next forwards ending at 152.85/95 per dollar, compared with Tuesday's close of 152.88/93. "There was (dollar) selling in the latter part of the day. We also saw a state bank selling. There was a bit of (dollar) inflows," a currency dealer said, asking not to be named.
The spot rupee, which the central bank had fixed at 152.50 since May 5, did not trade on Wednesday. Foreign investors bought a net 740 million rupees ($4.86 million) worth of government securities in the week ended May 31. They have sold a net 41.33 billion rupees worth of securities so far this year.
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