May 9 (TheLedger) - The Sri Lankan rupee strengthened to LKR 286.4 against the US dollar in interbank trading on Friday, its firmest level in fourteen months.
The move was driven by stronger-than-expected October remittance flows of USD 632 million, up 9% year-on-year, alongside renewed offshore demand for treasury bills.
Currency strategists expect the central bank to opportunistically rebuild reserves at these levels.
