ECONOMYNEXT – Sri Lanka’s rupee opened around 304.45/55 to the US dollars in the spot market Thursday around the same levels as the closing a day earlier while bond yields were flat after a fall. The rupee has fallen from 302.55/60 to the US dollar from the beginning of the month. The central bank is no longer printing money through open market operations and is giving money only for clearing purposes at the ceiling rate, which encourages banks to fund credit with real deposits. Some short term rates have moved up which should support the rupee by discouraging non-deposit finance…
Sri Lanka rupee at 304.45/55 to US dollar, bond yields flat
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