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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » RUPEE FALLS AS CB-FM CONFLICT BREWS

RUPEE FALLS AS CB-FM CONFLICT BREWS

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1RUPEE FALLS AS CB-FM CONFLICT BREWS Empty RUPEE FALLS AS CB-FM CONFLICT BREWS Wed Feb 22, 2017 11:40 am

samaritan


Moderator
Moderator
RUPEE FALLS FOR 5TH SESSION AS CENTRAL BANK - FOREIGN MINISTER CONFLICT BREWS!
(Mirror Business of Today)
COUNTRY'S ECONOMY IN A SOUP!


_________________




The biggest risk in life is not taking any risk at all.

2RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Wed Feb 22, 2017 12:13 pm

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
Rupee fall doesn't a mater. It is good for contry like SL. Previous approach only bought harm to the country. We have tested it for decades. It is time to exit from the depending rupee without depending the approach.
China , India forcefully devaluate their currency to boost the export to grow the economy. At least for 3 years we need to follow the same approach. Even it fails doesn't matter as depending approach failed us  for decades.

3RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Wed Feb 22, 2017 12:42 pm

samaritan


Moderator
Moderator
@sapumal wrote:Rupee fall doesn't a mater. It is good for contry like SL. Previous approach only bought harm to the country. We have tested it for decades. It is time to exit from the depending rupee without depending the approach.
China , India forcefully devaluate their currency to boost the export to grow the economy. At least for 3 years we need to follow the same approach. Even it fails doesn't matter as depending approach failed us  for decades.
Hon.Minister of Finance Ravi K thinks otherwise. Is he ignorant?


_________________




The biggest risk in life is not taking any risk at all.

4RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Wed Feb 22, 2017 2:18 pm

jayathu


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
How come import country like ours it's good rupee getting depreciated???

5RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Thu Feb 23, 2017 9:43 am

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
@jayathu wrote:How come import country like ours it's good rupee getting depreciated???
Simply imports will be demotivated. Our economy is consumer based economy. We rent,sell our harbors, airports, hotels, valuable lands to foreigners and import goods. This approach only can last until the last land sold to a foreigner.
We can create more jobs by moving into production economy. For an example if we take milk, sugar we pay around 20billions for imports. But we only can produce 3,4  jobs to handling the imports. But if we produce them in here we could produce 40,000 direct jobs with 40,000 income for a month from 20 billion.
Then there would be indirect jobs.

Importers make deals with ministers and take a big profit from importing those silly things. That's how the system works.

6RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Thu Feb 23, 2017 11:46 am

jayathu


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@sapumal twin deficit country like ours, wont it affect our country adversely deprecating the currency? If you go through CB accounts our Loan borrowing cost has gone up by 25% due to large amount of USD loans we have in our book. We are highly debt ridden country.

eg;- if you take 2015 development bonds were issued at 4.50% per annum for two year bond. Amount of 950Mn USD. Right now for last two yrs rupee has deprecated roughly around 15-18%.
they're going to issue again development bonds again this yr also. Most probably to pay off the maturing developing bonds.
http://www.economynext.com/Sri_Lanka_to_raise_at_least_US$450mn_from_3_year_loan-3-7404-17.html

7RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Thu Feb 23, 2017 12:42 pm

samaritan


Moderator
Moderator
Agree with Jayathu. Countries like China & India depreciated the currency when those were strong in order to stimulate exports. In our case its not so we already have a weakened currency and imports dependency for essential food commodities will send prices high making situ worse. This is not the appropriate time. Development of local sugar industry is a good suggestion if feasible.


_________________




The biggest risk in life is not taking any risk at all.

8RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Thu Feb 23, 2017 1:17 pm

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
I am not saying depreciate the currency like India, China. But keep it at the right place. Currently it is overvalued.
Depreciation wont be a problem in medium term to long term. When depreciating the currency the negative trade deficit will be narrowed as exports starting to rise and imports starting to decline. When no deficit , currency depreciation will be stopped for ever
With the current approach, imported goods are always have a 10% discount against local products. Local producers will never get a chance to compete with the foreign goods. Again it will pressure the currency and further depreciation is inevitable
People show essential foods but they import luxury items or things we could produce in here

9RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Fri Feb 24, 2017 1:58 am

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
the best way to defend the rupee is by export but we dont manufacture much to export ! plus oil imports are hurting the economy ! energy sector should be encourage through zero tax on sloar panels this may ease the burden on oil imports and encourage many private companies to get into solar for their energy needs ! but leaders are snoring in parliament

10RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Fri Feb 24, 2017 9:30 am

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
Look at our imports
http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/press/press_20160506e.pdf
Only around 25% is spend for fuel (oil,gas)

11RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Fri Feb 24, 2017 8:44 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
No proper investment programs had been launched aiming export oriented industries by utilizing foreign borrowings. Not a surprise to suffer in every segment of economy now.

12RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Sat Feb 25, 2017 8:03 pm

sureshot

sureshot
Vice President - Equity Analytics
Vice President - Equity Analytics
@sapumal wrote:Look at our imports
http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/press/press_20160506e.pdf
Only around 25% is spend for fuel (oil,gas)


There is nothing to look our imports.

Even the underwear is imported in Srilanka.... Very Happy

if Tsunami hits Srilanka again , then US$ will fall . No other possibilities.

13RUPEE FALLS AS CB-FM CONFLICT BREWS Empty Re: RUPEE FALLS AS CB-FM CONFLICT BREWS Sun Feb 26, 2017 9:32 am

samaritan


Moderator
Moderator
@sureshot wrote:
@sapumal wrote:Look at our imports
http://www.cbsl.gov.lk/pics_n_docs/02_prs/_docs/press/press_20160506e.pdf
Only around 25% is spend for fuel (oil,gas)


There is nothing to look our imports.

Even the underwear is imported in Srilanka.... :D

if Tsunami hits Srilanka again , then US$ will fall . No other possibilities.
Also, our major exports is Housemaids!RUPEE FALLS AS CB-FM CONFLICT BREWS Icon_biggrin


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