Sri Lankan rupee forwards up

20 May, 2016

Sri Lankan rupee forwards closed firmer on Thursday as bond buying by foreign investors helped dollar inflows which eased pressure on the currency, dealers said. The dollar/rupee forwards, known as spot next, ended at 146.75/80 per dollar, gaining from Wednesday's close of 146.90/147.00. "There were dollar sales by two foreign banks after the bond auction. Many foreign investors seem to have bought bonds," a currency dealer said, asking not to be named. The market is also waiting for cues from a monetary policy announcement scheduled for Friday, analysts said. The central bank sold 44.69 billion rupees ($304.84 million) at an auction on Thursday.

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