Sri Lanka rupee commercial banks’ weekly quote against USD steady | Sinhala News

Sri lanka News – Sri Lanka’s commercial banks’ rupee quote against telegraphic transfers was steady on the week ended on Friday June 10, with dealers said the central bank’s control has brought some stability though there were a few dollars for transaction.

The commercial banks’ rupee quote against telegraphic transfers were at 367 against US dollar, compared to 367.30 hit last week Friday June 3, banks’ data showed.

“Basically it’s the central bank’s control with a margin,” a currency dealer told EconomyNext.

“But we don’t see much liquidity of dollars in banks. We saw the gap between the bank quoted rupee rate and grey market rate was narrowing. But now it’s slightly widening because of the dollar liquidity issue.”

The central bank interbank spot trade was at 359.80 under a daily guidance rate, almost unchanged from the last week’s 360.3.

Commercial banks quoted 357/367 per dollar for telegraphic transfer dollars on Friday compared to the previous week’s 357.5/367.5.

The central bank stopped quoting day rates on January 23 when the rupee was floated with an interest rate correction after the soft peg collapsed, amid Russian war against Ukraine.

In 2021, the central bank enforced rate incompatible with the policy rate at around 203 to the US dollar.

The Finance Ministry last week removed import bans on a raft of non-essential commodities but raised taxes from 15-200 percent to discourage imports due to dollar shortage.  (Colombo/June11/2022)

 

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