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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Trading Day - Sri Lanka rupee weaker

Trading Day - Sri Lanka rupee weaker

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1Trading Day - Sri Lanka rupee weaker Empty Trading Day - Sri Lanka rupee weaker Thu Mar 08, 2012 3:32 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Mar 08, 2012 (LBO) - Sri Lanka's rupee was quoted around 121.55/70 against the spot US dollar in mid-morning trade after opening around 121.30/70 rupees, dealers said.

On Tuesday the rupee closed around 121.30/60 against the greenback. In money markets overnight gilt-backed repos were quoted at 8.80/90 percent levels and call money was at 9.75/85 percent.

In bond markets a March 2014 bond was quoted around 11.50/55 percent and 3-year bond maturing on 15 July 2012 was quoted at 11.70/12.00 percent, dealers said.

At this week Treasury bill auction, the 3-month yield rose 31 basis points to 10.11 percent, the six month rates rose 24 basis points to 10.18 percent and the 12-month yield rose 15 basis points to 10.45 percent.

Sri Lanka's interest rates have to increase to slow credit and reduce pressure on a dollar peg.

Stocks were down 0.2 percent in the first hour of trading, with 58 million rupees of turnover.
http://lbo.lk/fullstory.php?nid=1147601576

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Thu Mar 8, 2012 5:03pm IST
* Banks sell dlrs to cover short positions

* Rupee depreciation fears remain

* Stx edge down in thin trade


COLOMBO, March 8 (Reuters) - Sri Lanka's rupee ended firmer on Thursday as banks and exporters sold dollars, but concerns over the currency's further depreciation remained, while the stock market fell marginally in thin trade.

The rupee closed 121.10/30 a dollar, firmer than Tuesday's close of 121.45/55, as banks sold greenbacks to cover short positions and exporters converted to rupees, dealers said.

Both the currency and stock markets were closed on Wednesday for a Buddhist religious holiday.

The rupee has fallen 5.7 percent since Feb. 9, when the central bank stopped defending it. A Reuters monthly forex poll has forecast the rupee to fall as far as 128.50 by the end of August.

The stock market meanwhile edged down as many investors stayed away on concerns of slowing economic growth, rising interest rates and broadly flat December quarter profits.

The main share index fell 0.39 percent or 21.16 points to hit 5,456.51.

The day's turnover was 366.4 million Sri Lanka rupees ($3.02 million), lowest since Jan. 6 and well below last year's daily average of 2.3 billion.

The day's volume was 14.1 million, lowest since Jan.9. Last year's daily average was a record 102.7 million.

Foreign investors sold shares worth 8.1 million rupees, but the offshore investors were net buyers of 2.72 billion rupees so far this year, after a net outflow of 19.1 billion last year.

The Colombo bourse is one of the worst performers this year among Asian markets, with a 10.17 percent loss while the majority have had positive returns.

($1 = 121.5000 Sri Lanka rupees) (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Bryson Hull)
http://in.reuters.com/article/2012/03/08/markets-srilanka-idINL4E8E837P20120308

3Trading Day - Sri Lanka rupee weaker Empty Crossings 08/03/2012 Fri Mar 09, 2012 5:43 am

sriranga

sriranga
Co-Admin

Trading Day - Sri Lanka rupee weaker Crossi17

http://sharemarket-srilanka.blogspot.co.uk/

4Trading Day - Sri Lanka rupee weaker Empty Re: Trading Day - Sri Lanka rupee weaker Fri Mar 09, 2012 5:16 pm

lemuria


Manager - Equity Analytics
Manager - Equity Analytics

didn't CBSL ask some commercial banks to sell dollars tis tym?

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