By: LekshmiSajeev
Sri Lanka’s rupee closed weaker on Monday, with continued foreign outflows from government securities, while equities ended slightly firmer for the second straight session.
The rupee ended 0.1 per cent weaker at 180.45/55 per dollar compared to Thursday’s close of 180.25/45 following a long weekend. Markets were closed for a Buddhist religious holiday on Friday.
The currency gained 0.33 per cent last week and is up 1.2 per cent this year.
Foreign investors sold government securities worth 598.9 million rupees in the week ended September 11, data showed, extending the year to date net foreign outflow to 54.3 billion rupees through Sept. 11, central bank data showed.
Meanwhile, the benchmark stock index ended 0.04 per cent higher at 5,828.14. The bourse was up 0.47 per cent for last week.
Investors have been in a wait-and-watch mode since the main opposition party named a hardline former defence chief as its presidential candidate.
So far this year, the stock index has dropped about 3.7 per cent.
Equity market turnover was 747.3 million rupees ($4.14 million), more than this year’s daily average of about 648.4 million rupees so far. Last year’s daily average was 834 million.
Foreign investors sold a net 173 million rupees worth of shares, extending the year-to-date net foreign outflow to 2.28 billion rupees worth of equities, according to index data.
Reuters
