Sri Lankan rupee edges up on dollar selling by exporters

Wednesday, 12 October 2016 - 10:39


The Sri Lankan rupee edged up yesterday, recovering after three straight sessions of losses on dollar selling by exporters, with moral suasion by the central bank preventing the currency from falling.

The rupee is, however, expected to face pressure due to demand for dollars by importers ahead of the festival season in December.

The spot rupee was quoted at 146 rupees and 85 cents per dollar, but it was hardly traded for a third day running.

The spot closed between 146 rupees and 88 cents to 95 cents last Thursday.