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The Government Securities Market (GSM) continued to enjoy net foreign inflows for the second week running, data showed.
In the week ended Wednesday (28 October), the GSM received a net foreign inflow (NFI) equivalent to Rs 1,697.61 million; taking total foreign investments in the GSM market to Rs 311,168.85 million.
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Ceylontoday, 2015-11-02 02:00:00 Read 44 Times
GSM enjoys inflows for 2nd week
Ceylon Finance Today: The Government Securities Market (GSM) continued to enjoy net foreign inflows for the second week running, data showed.
In the week ended Wednesday (28 October), the GSM received a net foreign inflow (NFI) equivalent to Rs 1,697.61 million; taking total foreign investments in the GSM market to Rs 311,168.85 million.
In the previous week, i.e. in the week ended 23 October, the GSM enjoyed a net inflow of Rs 393.72 million. Prior to that however, it suffered a nine week drought, with the market suffering net foreign outflows continuously in the interim period.
Nonetheless, in the week ended 28 August, 2015, it enjoyed net inflows totalling Rs 930.2 million, taking such total inflows then to Rs 380,223.32 million.
The cause for such outflows then was mainly on expectations that the Federal Reserve System would raise its near zero Fed. fund rates after September's Federal Open Market Committee (FOMC) meeting. (PGA)
That resulted in a capital outflows to US based assets, also weakening the local currency. The Fed. fund rate has been kept at the 0-25 basis points level by the Fed. since the start of the global financial crisis in 2008. It was last raised in 2006.
But due to concerns over China, the world's second largest economy, which depreciated the yuan sharply in August 2015, the Fed. deferred from raising the Fed. fund rate at the FOMC meeting in September.
Nonetheless, at last month's FOMC meeting, the Fed. hinted that there is a possibility that the Fed fund rate would be raised due healthy employment numbers (according to latest statistics, the USA, the world's largest economy, has seen unemployment fall to 5.1%, from a high of 10%, during the 2009 Great Recession), when it next meets in December 2015.
Another ballpark figure the Fed. is looking at, in order to raise rates is an inflation target of 2%, currently at abysmally low figures due to a strong US dollar (which makes imports cheap, thereby plunging prices) coupled with falling oil prices. (PGA)
In the week ended Wednesday (28 October), the GSM received a net foreign inflow (NFI) equivalent to Rs 1,697.61 million; taking total foreign investments in the GSM market to Rs 311,168.85 million.
inShare
Ceylontoday, 2015-11-02 02:00:00 Read 44 Times
GSM enjoys inflows for 2nd week
Ceylon Finance Today: The Government Securities Market (GSM) continued to enjoy net foreign inflows for the second week running, data showed.
In the week ended Wednesday (28 October), the GSM received a net foreign inflow (NFI) equivalent to Rs 1,697.61 million; taking total foreign investments in the GSM market to Rs 311,168.85 million.
In the previous week, i.e. in the week ended 23 October, the GSM enjoyed a net inflow of Rs 393.72 million. Prior to that however, it suffered a nine week drought, with the market suffering net foreign outflows continuously in the interim period.
Nonetheless, in the week ended 28 August, 2015, it enjoyed net inflows totalling Rs 930.2 million, taking such total inflows then to Rs 380,223.32 million.
The cause for such outflows then was mainly on expectations that the Federal Reserve System would raise its near zero Fed. fund rates after September's Federal Open Market Committee (FOMC) meeting. (PGA)
That resulted in a capital outflows to US based assets, also weakening the local currency. The Fed. fund rate has been kept at the 0-25 basis points level by the Fed. since the start of the global financial crisis in 2008. It was last raised in 2006.
But due to concerns over China, the world's second largest economy, which depreciated the yuan sharply in August 2015, the Fed. deferred from raising the Fed. fund rate at the FOMC meeting in September.
Nonetheless, at last month's FOMC meeting, the Fed. hinted that there is a possibility that the Fed fund rate would be raised due healthy employment numbers (according to latest statistics, the USA, the world's largest economy, has seen unemployment fall to 5.1%, from a high of 10%, during the 2009 Great Recession), when it next meets in December 2015.
Another ballpark figure the Fed. is looking at, in order to raise rates is an inflation target of 2%, currently at abysmally low figures due to a strong US dollar (which makes imports cheap, thereby plunging prices) coupled with falling oil prices. (PGA)
