Sri Lanka rupee gains after opening

K G P Sirikumara, Director, Legal and Compliance Department, Central Bank handing over the report to Prof. W D Lakshman

Mar 29, 2012 (LBO) – Sri Lanka’s rupee gained against the greenback Thursday to strengthening to as much as 128.25/50 rupees after opening at 129.30/40 levels, dealers said. The rupee also closed stronger Wednesday, at 129.30/40 levels after opening weaker at 129.80/130.00 rupees against the US dollar.

Sri Lanka has upped interest rates to slow credit growth which was putting pressure on a dollar peg.