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Thursday, 28 July 2016 - 11:51
Sri Lankan Rupee Edges Down on Importer Dollar Demand
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Dealers say the Sri Lankan rupee edged down yesterday, due to importer dollar demand as hopes of the currency’s appreciation after a recent sovereign bond inflow evaporate

One-week rupee forwards, which have been acting as a proxy for the spot rupee, traded between 146 rupees and 20 to 40 cents per dollar, slightly weaker than Tuesday’sclose of 146 rupees and 10 to 30 cents per dollar.

The spot rupee is tightly managed by the central bank, and market participants use the forward market levels for guidance on the currency.

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