Sri Lankan currency appreciation 'unavoidable'
(MENAFN- Arab News) COLOMBO: The Sri Lankan rupee ended a tad weaker due to dollar demand from foreign bond sellers and importers dealers said.
The spot currency ended at 130.35/45 per dollar compared with Tuesday's close of 130.32/36.
Both the stock and foreign exchange markets were closed on Wednesday for a religious holiday.
Currency dealers and a bond trader said there was demand for dollars from foreign investors for selling bonds but in thin volumes.
Treasury Secretary P. B. Jayasundera said rupee appreciation is unavoidable in the medium to longer term due to higher export earnings and inflows from services.
The spot currency ended at 130.35/45 per dollar compared with Tuesday's close of 130.32/36.
Both the stock and foreign exchange markets were closed on Wednesday for a religious holiday.
Currency dealers and a bond trader said there was demand for dollars from foreign investors for selling bonds but in thin volumes.
Treasury Secretary P. B. Jayasundera said rupee appreciation is unavoidable in the medium to longer term due to higher export earnings and inflows from services.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment