Sri Lanka rupee held below Rs127.00 to US dollar

Thursday, 25 April 2013 - 12:25

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Sri Lanka's rupee steadied at slightly below 127 rupees to the US dollar in the spot market helped by selling from a state bank that usually acts for the monetary authority.

The spot US dollar was quoted around 127 when a state name entered the market with a quote of 126 rupees and 90 cents driving the spot down to 126.75.

The rupee had been sliding from a little over 125 to the US dollar since the end of a traditional festival period towards 127 with no intervention by the Central Bank.