Sri Lanka’s rupee was bid at 295 to the US dollar late Friday, with not offers and bond markets were inactive, dealers said.
The rupee was quoted at 290/320 to the US dollar in intra-day trading.
The rupee was quoted as weak a 290/320 to the US dollar but there is no active trading in the spot market.
In the kerb market the US dollar was offered at 335 rupees on Friday. In online market the tether stable coin was quoted from 334.18 rupees upwards.
Commercial Banks were offering to sell dollars for telegraphic transfers at 292.5 to 297 rupees and was buying at 272.5 to 287 rupees on Friday.
Analysts had warned that a surrender requirement imposed by the central bank goes against the rupee and is a stumbling block to the attempt at floating the rupee. However the surrender requirement was doubled on Wednesday.
Bond markets were also inactive.
In the secondary market, the only liquid bond maturing on 01.08.2024 was quoted at 15.00/15.25 percent on Friday, up from 14.95/15.15 percent a day earlier.
In the money market, the central bank was quoting an indicative spot rate of 290.00 dollars, up from 280.00 dollars, a day earlier.
Commercial banks were offering to sell dollars at 294.99 rupees for telegraphic transfer and buy at 284.82 rupees on Friday.
On Thursday the selling rate was 289.99 and buying at 279.9.