Sri Lankan rupee at year high on remittances

Friday, 05 April 2013 - 17:20


The rupee firmed to its highest close in nearly a year on high remittances and selling of dollars by exporters ahead of a festival season, while stocks rose on foreign buying of bank shares.


The rupee ended 0.44 percent firmer at 125.65 to the dollar from Wednesday's close of 126.25, its highest level since April 9th, 2012.


'This is mainly due to seasonal inflows due to inward remittances and exporter conversion of dollars ahead of the new year festival this month.