COLOMBO Dec 2 The Sri Lankan rupee was trading
marginally higher on Friday as exporters sold dollars while the
demand for the greenback from importers was subdued with the
year-end festival season setting in, dealers said.
Rupee forwards were active while spot-next forwards
were at 148.85/95 per dollar at 0603 GMT, compared with
Thursday's close of 149.00/02.
"There is nothing much happening, the pressure has eased and
we can't see much (dollar) demand today," said a currency
dealer, asking not to be named.
The spot rupee was hardly traded, but was quoted at
However, some dealers expect the rupee to be under pressure
on fears of U.S. President-elect Donald Trump's economic
policies leading to a stronger greenback thereby triggering
foreign fund outflows.
They expect the pressure to ease when seasonal inward
remittances begin and on expected inflows, including the $200
million after the swap agreement with China Development Bank.
Foreign investors have net sold 38.93 billion rupees
($262.69 million) worth of government securities in the six
weeks ended Nov. 23, ahead of an expected Fed rate hike in
Sri Lankan shares were trading higher with the benchmark
Colombo stock index up 0.08 percent at 6,314.10 as of
0624 GMT. Turnover stood at 797.7 million rupees ($5.39
($1 = 148.1000 Sri Lankan rupees)
(Reporting by Ranga Sirilal; Editing by Vyas Mohan)