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Rupee slips on buying dollar by banks before the call rate

The Sri Lanka rupee closed a little lower yesterday due to the dollar demand from importers and banks, while foreign investors continued to sell government securities, brokers said. The front of rupees were active two weeks before ending at 151.18 / 25, compared with Friday's closing of 151.15 / 20 "Import demand was there, we can see the pressure (to depreciate) with A demand more and more festive "he said a dealer of anonymity covered. The Central Bank of Sri Lanka is due to hold its first review of monetary policy 2017 today. The central bank could raise key policy rates in the coming months if the opportunity to harden this week is skipped, according to a Reuters poll, pointing to the renewed pressure on the rupee following the increase in the Fed's rate last month. The rupee has been under pressure due to increased imports and net sales of government securities by foreign investors, while the central bank said that the defense of currency with foreign exchange reserves "does not seem reasonable. " The Central Bank revised the benchmark index of rupees at a record rate of 150.50 from 150.25 last week. The net of foreign investors has sold the value of government securities Rs.26.6 billion within four weeks to 1 February, according to the latest data from the Central Bank.

 
 

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