Rupee weakens further against US Dollar

Daily Mirror reports that the Sri Lankan rupee weakened further against the US dollar on October 29, citing a Central Bank of Sri Lanka selling rate of Rs. 337.13. Newswire also reports further depreciation compared with Wednesday, with selling rates reaching about Rs. 337 at some commercial banks.

Newswire reports that Seylan Bank held its buying and selling rates unchanged at Rs. 328.05 and Rs. 337.30. NDB’s rates rose to Rs. 328.00 buying and Rs. 337.00 selling; People’s Bank’s to Rs. 328.45 and Rs. 336.59; and Commercial Bank’s to Rs. 326.58 and Rs. 336.50. Sampath Bank’s rates were unchanged at Rs. 328.50 buying and Rs. 336.50 selling.

EconomyNext reports that dealers quoted the rupee at 332.67/75 to the dollar in the spot market on Thursday, October 29. Its telegraphic transfer rates were Rs. 328.05 buying and Rs. 337.05 selling for the dollar, and it also listed rates for the euro and pound.

EconomyNext reports that yields on several government bonds were steady or lower, while the yield on a bond maturing in October 2034 was higher. The outlet also reports that the Colombo Stock Exchange’s All Share Price Index rose 0.60 percent to 20,090 and the S&P SL20 gained 0.66 percent to 5,729.