Sri lanka News – Sri Lanka rupee was quoted at 295/315 to the US dollar in the spot market Monday, but only bids are firm, while bond markets were mostly inactive dealers said.
Commercial Banks were offering dollar for telegraphic transfers at 295 rupees and buying at 280 rupees.
The central bank indicative spot rate was 294.98 rupees.
In the kerb market the US dollar had moved to around 350/360 rupees over the weekend and stabilized a little on Monday, market participants said.
Sri Lanka’s rupee has been made more flexible but a clean float has not yet been established.
Economists and analysts have urged the central bank to raise rates and halt a surrender rule that is taking dollar away from the banking system and creating rupees. (Colombo/Mar28/2022)