* Market participants said the Central Bank met banking CEOs yesterday and foreign exchange dealers on Thursday and is expected to introduce regulatory measures aimed at reducing volatility in the currency market.
* Dealers said CBSL yesterday informally capped the interbank US dollar spot rate at Rs. 330, while market speculation also emerged that the Central Bank could shorten the mandatory conversion period for export proceeds from 90 days to 30 days.
- CBSL instructs banks to cap interbank spot exchange rate at Rs. 330
- Interbank USD spot rate eases to Rs. 329/335 from Thursday’s Rs. 331/348 peak
- Dealers say forex market was driven largely by sentiment, not fundamentals
- Exporter dollar sales returned liquidity to the market at hint of measures to bolster currency
- Importers step back after earlier front-loading of LCs and FX bookings
