Sri Lanka rupee weakens, rates up

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

June 11, 2012 (LBO) – Short term rates picked up as liquidity dried up in money market and the spot US dollar rose as high as 131.80/90 Monday, dealers said. Overnight call money rates rose to around 10.00/15 percent levels from and repos were quoted around 9.10/20 percent levels.

The central bank did not have a repo auction to drain liquidity as the aggregate clearing balance fell to just 1.15 billion rupees.

The rupee weakened to 131.80/90 to the US dollar Monday from 130.40/50 levels Friday.

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