The dollar moved to Rs. 171.40 its highest level during the week in Colombo’s money markets. Dealers said the supply and demand was static though there were reports that the Central Bank had pumped in quantities of the US currency to reduce pressure on the rupee. They said the Central Bank through various directives to [...]

Business Times

Dollar rises to Rs.171.40

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The dollar moved to Rs. 171.40 its highest level during the week in Colombo’s money markets.

Dealers said the supply and demand was static though there were reports that the Central Bank had pumped in quantities of the US currency to reduce pressure on the rupee.

They said the Central Bank through various directives to banks was trying to restrict non-essential imports in a bid to contain further depreciation of the rupee.

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