FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» When will supply chain disruptions ease?
by Gowri123 Yesterday at 11:46 pm

» KHL Massive forex gains close to 6 billions
by rajini Yesterday at 10:54 pm

» Tourism in Sri Lanka: One step forward, two steps back
by rajini Yesterday at 9:21 pm

» Expolanka to continue its winning streak
by samaritan Yesterday at 4:12 pm

» The war in Ukraine is no longer shocking the wheat market
by ResearchMan Yesterday at 12:53 pm

» Govt gets its priorities wrong
by samaritan Yesterday at 10:25 am

» Ambassador assures U.S. support to Sri Lanka to find solutions to economic issues
by samaritan Yesterday at 10:16 am

» IMF-Sri Lanka bailout talks end without a deal
by ChooBoy Yesterday at 9:16 am

» Sri Lanka Breaks Into Hyperinflation Zone Amid Dollar Crunch
by CHRONICLE™ Yesterday at 8:11 am

» Sri Lanka needs to do more on debt restructuring before a bailout package is finalised, says IMF
by CHRONICLE™ Yesterday at 8:06 am

» Global COVID cases rise as BA.4 and BA.5 expand
by samaritan Yesterday at 7:04 am

» POSITIVES & TARGETS BY IMTIAZ BUHARDEEN
by Gowri123 Wed Jun 29, 2022 4:38 pm

» We’re seeing a shift toward international and value stocks, says Schwab’s Kleintop
by target1 Wed Jun 29, 2022 2:40 am

» Wall Street stumbles as consumer pessimism stokes growth fears
by target1 Wed Jun 29, 2022 2:34 am

» Free Market Capitalism vs. Crony Capitalism
by target1 Wed Jun 29, 2022 2:30 am

» Sri Lankan corporations reap large profits as workers and rural toilers face poverty and starvation
by CHRONICLE™ Tue Jun 28, 2022 6:37 pm

» අද රාත්‍රියෙන් පසු, යක්ෂයාගේ හෝරාව ඇරඹේ!
by God Father Tue Jun 28, 2022 6:13 pm

» Derana 360 with Minister Dhammika Perera
by samaritan Tue Jun 28, 2022 1:07 pm

» CENTRAL INDUSTRIES PLC (CIND.N0000)
by LHW Tue Jun 28, 2022 9:24 am

» Breaking News- Kanchana to go to Qatar ; 2 more ministers off to Russia
by Beyondsenses Tue Jun 28, 2022 8:13 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Rupee ends steady on dollar selling by State-run bank

Rupee ends steady on dollar selling by State-run bank

Go down  Message [Page 1 of 1]

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

The rupee ended steady on Tuesday as a State-run bank, through which the Central Bank usually directs the market, sold dollars at 134.50 a day after it raised the local currency’s peg against the dollar for a second straight session.


Currency dealers said the pressure on the rupee eased due to some inward remittances, but they expect the Central Bank to let the rupee weaken due to importer dollar demand and a global trend of weakening currencies against the dollar.



“There were some inward remittances which eased the pressure today but the import demand was there,” said a currency dealer asking not to be named.
The rupee ended steady at 134.50 per dollar.



On Monday the State-run bank raised the rupee’s peg to the dollar by 20 cents, allowing the exchange rate to depreciate to 134.50.



The Central Bank left its key interest rates steady at record lows on Monday as expected, with inflation seen lower in the next few months, and said it was keen to avoid any excessive growth in credit. 



The bank said a rapid rise in imports of consumer durables, including motor vehicles, driven by credit available at low interest rates, among other things, had raised some concerns.



Analysts say the rupee may fall to 138 levels in the short term if the Central Bank allows it to depreciate without selling dollars through the State bank.
Courtesy: Daily Financial Times 2 September 2015

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum