Sri Lanka rupee reference rate weakened

.ECONOMYNEXT – The reference rate of the Sri Lanka rupee was devalued to 147.40 to the US dollar Friday from 146.90 to the dollar, though no trading takes place in the spot market, dealers said.

There is also no trading in the spot-next market, amid heavy moral suasion by authorities, dealers said.

One week forward rupees are quoted at 148.35/50 to the US dollar Friday.

Sri Lanka’s central bank has been buying dollars and selling. (Colombo/Oct28/2016)

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