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Sri Lanka rupee opens stronger

Nov 17, 2009 (LBO) - Sri Lanka's rupee opened stronger against the US dollar with a state bank that usually acts for the monetary authority buying at 114.
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25 Tuesday up from yesterdays 114.35 levels, dealers said. Sri Lanka's rupee was pegged at 114.
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80 levels for most of the year following float in March that got the country out of a balance of payments crisis, by ending a cycle of liquidity injections (money printing) and dollar sales.
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The central bank is now withdrawing liquidity from money markets and has full control of the exchange rate.

In September the Central Bank bought 437.

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15 million US dollars. In October it bought 364.0 million US dollars and also sold 118.
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50 million US dollars, according to official data.
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Sri Lanka has received large foreign inflows after it signed a deal with the International Monetary Fund which increased investor confidence.
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