Home / Financial Services/ Rupee ends weaker on importer dlr demand

Rupee ends weaker on importer dlr demand


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 4 October 2017 00:00


Reuters: The rupee closed weaker on Tuesday as dollar demand from importers surpassed the sales of the US currency by exporters and by banks due to inward remittances, dealers said.

The spot rupee ended at 153.23/30 per dollar, compared with Monday’s closing level of 153.05/20.

“There was pressure from some petroleum bills and other importer demand (for the dollar),” said a currency dealer who did not wish to be named.

The rupee has been under pressure since January after the central bank stopped defending the currency and started buying the dollar to build up the country’s depleted foreign currency reserves.

The island nation had seen Rs. 18 billion ($117.49 million) of net inflows into equities this year as of Tuesday’s close, and Rs. 29.1 billion worth inflows into Government securities as of 27 September this year, official data showed.


Share This Article


COMMENTS

Today's Columnists

Spotlight on Franco-German Human Rights Award winner, Sri Lanka’s Shreen Saroor

Saturday, 16 December 2017

Noted Sri Lankan human rights campaigner Shreen Abdul Saroor received the Franco-German Human Rights Award at a ceremony on Monday in the presence of Minister of Finance and Media Mangala Samaraweera and the German Ambassador to Sri Lanka Jörn Rohde


Thoughts on the Budget and what comes next

Friday, 15 December 2017

The recent Budget definitely improves on previous budgets. It is a promising debut for Mangala Samaraweera, the new Finance Minister. He sees...


2017 a decisive year; what’s in store for 2018?

Friday, 15 December 2017

‘Creating a Shared Future in a Fractured World’ is be the goal of the World Bank and the IMF in 2018. In the last 12 months the global...


Call to probe Lanka’s trade with Singapore and UAE for black money transactions

Friday, 15 December 2017

Sri Lankan economist Dr. Muttukrishna Sarvananthan has called for a probe into the financing of the substantial trade between Sri Lanka and countries like Singapore and the UAE, to check possible black money transactions


Columnists More