Sri Lanka rupee gains on dollar sales by exporters, banks
COLOMBO Oct 11 (Reuters) - The Sri Lankan rupee was firmer near its three-month high on Friday due to dollar sales by exporters and banks.
Dealers expect the local currency to be stable and trade in a narrow range in the short term.
They expect the rupee to move with little volatility after the central bank governor said last week that the currency would "behave in a stable manner" in the next few months.
The spot rupee was at 131.00/05 per dollar at 0535 GMT, its highest level since July 16 and firmer from Thursday's close of 131.10/15.
The rupee hit a record low of 135.20 on Aug. 28, but has managed to stem further losses since then.
Globally, the dollar, which tracks the greenback's performance against a basket of major currencies, traded near a two-week high.
Sri Lanka's main stock index was up 0.16 percent, or 9.49 points, at 5,966.86 at 0548 GMT. (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)
- Tearful Thai PM urges protesters to take part in election
- Google bus blocked in San Francisco gentrification protest
- North Korea's "reign of terror" worries South's leader
- Chinese hackers spied on Europeans before G20 meeting: researcher
- Putin dissolves state news agency, tightens grip on Russia media