The Sri Lankan rupee ended firmer in one-week forwards on Friday, as foreign banks sold dollars on behalf of offshore investors to buy local bonds, dealers said.
The spot rupee is tightly managed by the central bank and market participants use the forward market levels for guidance on the currency.
Dealers said the central bank did **t intervene for the fourth straight session since the appointment of the new central bank gover**r.
The rupee in one-week forwards, which have been acting as a proxy for the spot rupee, ended at 146.00/10 per dollar, stronger than Thursday's close of 146.15/30. "Foreign banks sold (dollars) as foreign investors were buying into bonds.
07-10-2016, 02:59 AM
Sri Lankan rupee ends higher
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