Sri Lanka Rupee Exchange Rates

Above 3 ml , 5000$, hahhhaaahgashgaa, who can buy this...hahhaaa

5000 usd mean 1mn bro

Yes, sri Lankan wallapatta has the highest demand

when compare USD/ERU, USD/JPY,...... and many more USD going down. Why USD/LKR? they also facing this problem than us.

US$:LKR 1:200 Soon

I predicted this to happen early january. This purely sign of sri lanka economic crisis, i mean debt.

worst is yet to come.. now its 1 USD=  Rs.183.91
dont know how it is gonna endup in the end of this year..

Which means foreigners will sell on Monday Too. Do anybody know how much foreigners own the equity in CSE?

USD at all time high 184. Foreigners keep loosing money regardless it is down or up. Can expect high selling from them. Also most of the global markets are very attractive. They will move their founds else where

Quibit wrote:US$:LKR 1:200 Soon

I will becomes reality next week. How SL going to settle the debt ????

Today was the lowest in life time. Very sad..

https://www.cbsl.gov.lk/en/rates-and-indicators/exchange-rates

Sri Lanka rupee strengthens in one week forwards against US dollar, spot seen
Wednesday May 6, 2020 15:30:51

ECONOMYNEXT – Sri Lanka’s rupee strengthened to 187.50/188.00 to the US dollar on Thursday from around 189.00/189.50 to the US dollar in the one week forward market, while some spot trades were also seen dealers said.

One week’s were quoted as strong as 186.15/60 to the US dollar in intra-day trade, before weakening towards close, dealers said.

Sri Lanka’s economic activity and consumption has declined in amid Coronavirus curfews.

Sri Lanka’s central bank printed large volumes of money and did not initially intervene as excess liquidity pressured the rupee and importers tried to cover their bills hurriedly.

Any pegged central bank that prints money (injects liquidity with the acquisition of domestic assets) would pressure the peg, even if private credit is weak.

Sri Lanka’s economy had become highly vulnerable to monetary instability after the central bank started to target a call money rate with excess liquidity, losing all control of the monetary base, analysts have pointed out.

The loss of control of the monetary base coupled with a so-called ‘disorderly market conditions (DMC)’ where interventions are delayed until market participants are in full panic and the credibility of the peg is lost.

Restoring the credibility of the peg requires consumption collapses and output shocks.

Unless the rupee is allowed to appreciate as consumption and credit collapses, stagflation as well expansions of the national debt, chronically higher interest rates will result.

The central bank in the past has been quick to stop the appreciation of the rupee, as consumption collapses after currency collapse.

Banks which are short borrowed 20.3 billion rupee from the central bank’s overnight widow at 7.0 percent though excess banks deposited 162 billion rupees in the central bank, indicating counter party risks.