Sri Lanka rupee firms in dull trading

Standing left to right – Mr. Dinesh Jebamani (Chief Manager Liability Product Management and New Age Media – Seylan Bank), Mr.Sudesh Peiris (Senior Manager – Digital Banking Channels – Seylan Bank), Ms. S.Senevirathne (Representative of the Revenue Department – Western Province), Mr. Tilan Wijeyesekera (Deputy General Manager – Retail Banking – Seylan Bank) and Mr. Malik Wickremanayaka (Deputy General Manager – Operations – Seylan Bank)

Sept 07, 2007 (LBO) – The Sri Lanka rupee closed firmer at 113.25/28 against the greenback Friday, up from yesterday’s close of 113.27/32, dealers said. There were some swap deals in the market.

A state name was also seen buying dollars, in what was a fairly dull Friday, dealers said.

However there was liquidity in the market.

Call rates hit a peak of 15.00 percent and remained while the Central Bank Treasury bill stock representing printed money was 72 billion rupees, up about 40 billion rupees during the past three month.

Liquidity was square with only 160 million being in excess.

Bond markets were also quiet with some interest in the 15.4.12 bond which is now priced around 17.15 percent.

On Thursday two foreign names sold bonds which dealers estimate to have been just over 400 million rupees. Foreign investors bought the bonds at prices around 14.25 to 14.50 percent.

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