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Wednesday, 24 August 2016 - 10:45
SL rupee trades steady; dollar selling by foreign investors ease pressure
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The Sri Lankan rupee held steady for a 7th straight session yesterday, with dealers hesitating to trade in the local currency below 145.50 per dollar anticipating central bank intervention to defend the currency.

Foreign investors were seen selling the U.S. currency, which helped ease pressure on the rupee due to demand for dollars by importers.

Sri Lanka’s central bank retired around 470 million dollars’ worth Sri Lanka Development Bonds last week, instead of reissuing them, using inflows the country got from a syndicated loan recently.

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