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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sri Lanka: Will US Dollar hit Rs.160 soon with present Crisis

Sri Lanka: Will US Dollar hit Rs.160 soon with present Crisis

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StockGuru

StockGuru
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
With the present Economic Crisis around the world that is yet to unveil amidst China's Stock Crash over 30% last few weeks, Black Monday in China occurred on 24th August 2015 and it had more repercussions around the Globe in other markets including in Sri Lanka.

What do you guys think will the US $ 1 - Dollar hit Rs.160 soon with this Crisis and our cost of Living become more expensive when Imported goods become Become expensive in Dollar terms when our Rupee goes down. Will the new government handle our economy well???

Jiggysaurus

Jiggysaurus
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
160 may not be enough let's make it 360.

VALUEPICK

VALUEPICK
Expert
Expert
If that is so there will be great demand for listed companies which has some type of exports. Because, without any effort their profit will go up. Most probably it will be range bound. Because rupee already had devaluation in 2012. Rupee went up from Rs.110 to Rs.136/137 levels against one USD.
 
Tea companies
Export oriented Rubber based companies
Other exporters including poultry companies as they have export in regional markets now.
 
It is time to add few golden eggs to our baskets.
 
I think media is highlighting too much on this Chinese market correction. In the mid and long term their bull market will start again. They are looking for some reasons when they see volatility in markets.
 
So far Greece is up more than 6 to 8%.  Greek was another China for some analysts.
 

Greece



NAME
VALUE
NET CHANGE
% CHANGE
1 MONTH
1 YEAR
TIME
2 DAY
[size=18]
ASE:IND
Athex Composite Share Pr
 
[/size]
606.57
+38.19
+6.72%
-23.94%
-47.68%
05:55:08
 
[size=18]
FTASE:IND
FTSE/ASE Large Cap
 
[/size]
176.74
+13.62
+8.35%
-26.73%
-53.01%
05:55:08
 
 
I don’t know what to take now Rs. 160 or Rs.360. Be happy those who have any type of export companies in their portfolio.

anu

anu
Manager - Equity Analytics
Manager - Equity Analytics
Depreciation will only be gradual. Hope the new Govt attracts FDI and the forex position stabilizes to some extent. Remember due to sunami inflows, LKR appreciated in 2005? Though this time round I will not be similar, if we achieve large inflows, it can arrest the free fall.

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Other than inflows from tourism & foreign remittances major savings could be achieved through efficiencies ( by minimizing frauds, corruption, government spending & tax evasions etc..) if real "yahapalanaya" is meaningfully activated. 

Focussed attention on the growth of export oriented products for emerging markets in mid to long term would accumulate more export income & employment opportunities. Such measures would support to control & delay the phase of currency depreciation over years. 

Everything depends on how policy makers are capable of planning & implementing economic  monetary & monetary affairs from mid to long term.

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