Sri Lanka rupee slightly weaker in forward, spot inactive

ECONOMYNEXT – The Sri Lanka rupee was slightly weaker against the US dollar in the forwards but the spot market was inactive, dealers said.

The rupee ended Friday at 175.25/50 rupees against the US dollar in the spot market.

The dollar was quoted at 175.60/75 rupees in the spot-next  market ((settlement spot plus one day) edging up from 175.60/72 rupees the previous day, and 176.00/10 rupees in seven-day forward contracts, unchanged from Friday’s close, market participants said.

In the stock market there was net foreing buying last week. Up to Thursday foreign bond holdings were also steady.

The currency had weakened Friday from the previous day’s closing of 175.00/50 rupees. (COLOMBO, 29 April, 2019)

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