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Thursday, 03 May 2012 - 8:18
Rupee on wild trading day.
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Sri Lanka's rupee went on a wild ride yesterday in thin trade in a market where there is little depth and uncertainty is high among dealers.

The rupee traded as low as 131.00 to the US dollar and strengthened as much as 126 rupees against the US dollar in the spot market.

Dealers say some banks started to sell dollars as the implied interest yield on swaps rose as much 11.70 percent for a month.

The rupee eventually closed around 127.70 to 128.50

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