Sri Lanka rupee to show -stable- behaviour in coming months

Saturday, 05 October 2013 - 11:57


Governor Ajith Nivard Cabraal said Sri Lankas currency will "behave in a stable manner" in the next few months as the central bank has taken steps needed to deal with a volatile environment.


The Sri Lankan rupee hit a record low of 135.20 against the U.S. dollar on August 28th, but since then has risen 3.2 percent, helped by inflows from a corporate bond.


The International Monetary Fund on Wednesday raised concerns over repeated intervention in the foreign exchange market to stabilise the rupee and urged the central bank to limit its intervention "to dealing with excessive short term volatility".

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