Rupee ends firmer on inward remittances, exporter dollar sales

Thursday, 21 December 2017 00:00 - - {{hitsCtrl.values.hits}}

Reuters: The rupee closed firmer on Wednesday, as exporter dollar sales and inward remittances exceeded demand for the US currency by importers, dealers said.

The spot rupee ended at 152.90/153.00 per dollar, compared with Tuesday’s close of 153.05/15.

“There were some exporter (dollar) conversions and inward remittances,” said a currency dealer. “The import demand is very low.” The rupee has lost 2.3% so far this year, but currency dealers say dollar demand has slightly waned, lending support to the domestic currency.

The market has been waiting for more clarity over a foreign exchange management act introduced by the government last month.

Foreign investors have net bought equities worth Rs. 18.34 billion ($ 119.87 million) this year as of Wednesday’s close. They had bought government securities worth a net Rs. 62.4 billion as of 13 December, official data showed.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.