COLOMBO: Sri Lanka's rupee will not be under downward pressure in the foreseeable future due to a policy aimed at building foreign reserves and a gradual appreciation in the currency is expected, the central bank governor said on Saturday.
The central bank has bought more than $1 billion this year to prevent a sharp gain in the currency amid strong inflows from remittances, project-related loans, and investment in government securities in the absence of strong growth in imports and private sector credit growth.
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