Sri Lanka forex markets quiet

Directory launched in the presence of Jagath Perera, CA Sri Lanka President, Manil Jayesinghe, CA Sri Lanka Vice President, Harsha Basnayake, Ernst & Young Asia Pacific Transaction Advisory Managing Partner, Aruni Rajakarier, Chairperson of the CA Sri Lanka Women Empowerment Committee, Anoji De Silva, Alternate Chair of the Women Empowerment Committee and Dulani Fernando, CA Sri Lanka CEO

Apr 27, 2012 (LBO) – Sri Lanka’s rupee was tentatively quoted around 130.80/131.50 against the US dollar as markets opened Friday but with little firm quotes due to moral suasion from the monetary authority, dealers said. On Thursday the rupee closed around 131.50 to the US dollar with almost no trading earlier in the day.

In money markets gilt backed repo deals were quoted around 8.25/8.90 percent far below the reverse repo rate of 9.75 percent and call money was at 9.75/10.00 percent, dealer said.

Market excess liquidity was 10.6 billion on Thursday.