Sri Lanka stocks open up, rupee steady

April 27, 2009 (LBO) – The Sri Lanka rupee opened at 120.10/40 against the spot dollar Monday dealers said, while stocks opened 0.46 percent up, following week of strong gains. Seylan Bank, of which 33 percent is being sold to a strategic partner by the Central Bank opened up 1.00 rupees at 39.75. Sampath opened up 1.20 at 74.00 rupees.

In forex markets the spot dollar traded around 120.40, dealers said. The market was around 120.30/50 rupees in mid-morning trade, but dipped to 119.80/120.00 by late afternoon trade. A state bank said it was not offering at higher levels.

The rupee has been floating freely from the last week of March, ahead of an International Monetary Fund bailout.

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