Rupee forwards end steady; importer dollar demand weighs
Thursday, 25 December 2014 00:35
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Reuters: Sri Lankan rupee forwards closed steady for an eighth straight session on Wednesday, with the central bank capping trading at 132.00 per dollar.
Four-day forwards, which were actively traded, closed steady at 131.99/132.05 per dollar.
Dealers said unusually high imports towards the end of this year amid lower interest rates and stable exchange rate have put pressure on the rupee.
Three-day forwards, or spot-next, started to trade on Monday after nearly four weeks, ended at 131.99 per dollar level, dealers said.
The spot currency was not traded after the central bank capped the currency at predetermined levels to prevent volatility, traders said.
Central bank Governor Ajith Nivard Cabraal said on Thursday that the rupee would be stable during this month.
Overseas investors sold a net 367 million rupees worth of government securities during the week ended 17 December.
