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Sri Lanka Equity Forum » Stock Market Talk » Sri Lanka rupee strengthens, stocks end 0.21-pct lower(Aug 13, 2018)

Sri Lanka rupee strengthens, stocks end 0.21-pct lower(Aug 13, 2018)

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Vice President - Equity Analytics
Vice President - Equity Analytics
The Sri Lanka rupee gained against the US dollar on export conversions Monday, while gilt yields eased and stocks fell 0.21 percent on selling in banking stocks, brokers and dealers said.
The rupee closed stronger against the US dollar at 160.00/05 rupees in the spot market, after export conversions strengthened the currency from an intra-day low of 160.15 rupees, dealers said.
The US dollar closed Friday at 160.05/10 rupees.
The Central Bank was also seen buying US dollars from the market which increased rupee liquidity.
Overnight excess liquidity in money markets was up 3 billion rupees since last Thursday to 57.5 billion rupees on Monday, with the Central Bank mopping up 20 billion rupees in excess liquidity via the reverse repo window during the day.

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