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Sri Lanka Equity Forum » Stock Market Talk » Central Bank will intervene if rupee moves on speculation – official

Central Bank will intervene if rupee moves on speculation – official

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Miss-Sangeetha

Miss-Sangeetha
Moderator
Moderator
Sri Lanka’s central bank will intervene in the foreign exchange markets if its rupee currency moves for any reasons other than global trends, Nandalal Weerasinghe, the bank’s senior deputy governor, told Reuters on Friday.

Currency dealers have said the central bank had not intervened much to defend the currency, which has dropped 5.6 percent this year, even after it hit record lows for 13 straight sessions through Thursday.

On Thursday, the central bank cut net opening positions (NOP) of commercial banks after the rupee, which had weakened 1.2 percent last month, hit a record low of 162.65 against the dollar. The currency recovered after the central bank’s move.

“If we think it is moving due to several other reasons, rather than a global trend, obviously we will intervene,” Weerasinghe told Reuters in an interview.

“We will intervene and we will bring any other measures we think appropriate.”

On Tuesday, the junior finance minister said the government would leave the level of its rupee to market forces to decide.

Banks have been building up reserves on speculation, however, Weerasinghe said.

“We have observed banks have been building up their positions and not converting (the dollars). Without any fundamental reasons, there is no reason to build up reserves.”

The government has not been “influencing or intervening” in the foreign exchange management of the central bank, he added.

“Whether to intervene or not, it is the responsibility of the central bank,” he said, adding that both depreciation and level of intervention has been lower in Sri Lanka than some other countries.

He also said there was no sharp decline in exporter conversions as claimed by currency dealers and the market had seen an average daily transaction volume of $80 million to $120 million.

Weerasinghe said Sri Lanka’s foreign exposure in the government securities was less than 6 percent of total treasury bonds and bills.

Foreign investors have sold a net 46.9 billion rupees ($289.6 million) worth of securities so far this year, central bank data showed. ($1=161.95 Sri Lankan rupees)

Source: Reuters & Adaderana

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Miss-Sangeetha wrote:Sri Lanka’s central bank will intervene in the foreign exchange markets if its rupee currency moves for any reasons other than global trends, Nandalal Weerasinghe, the bank’s senior deputy governor, told Reuters on Friday.

Currency dealers have said the central bank had not intervened much to defend the currency, which has dropped 5.6 percent this year, even after it hit record lows for 13 straight sessions through Thursday.

On Thursday, the central bank cut net opening positions (NOP) of commercial banks after the rupee, which had weakened 1.2 percent last month, hit a record low of 162.65 against the dollar. The currency recovered after the central bank’s move.

“If we think it is moving due to several other reasons, rather than a global trend, obviously we will intervene,” Weerasinghe told Reuters in an interview.

“We will intervene and we will bring any other measures we think appropriate.”

On Tuesday, the junior finance minister said the government would leave the level of its rupee to market forces to decide.

Banks have been building up reserves on speculation, however, Weerasinghe said.

“We have observed banks have been building up their positions and not converting (the dollars). Without any fundamental reasons, there is no reason to build up reserves.”

The government has not been “influencing or intervening” in the foreign exchange management of the central bank, he added.

“Whether to intervene or not, it is the responsibility of the central bank,” he said, adding that both depreciation and level of intervention has been lower in Sri Lanka than some other countries.

He also said there was no sharp decline in exporter conversions as claimed by currency dealers and the market had seen an average daily transaction volume of $80 million to $120 million.

Weerasinghe said Sri Lanka’s foreign exposure in the government securities was less than 6 percent of total treasury bonds and bills.

Foreign investors have sold a net 46.9 billion rupees ($289.6 million) worth of securities so far this year, central bank data showed. ($1=161.95 Sri Lankan rupees)

Source: Reuters & Adaderana
We miss your best friend Teller...........

pererap


Stock Analytic
Stock Analytic
@Miss-Sangeetha wrote:Sri Lanka’s central bank will intervene in the foreign exchange markets if its rupee currency moves for any reasons other than global trends, Nandalal Weerasinghe, the bank’s senior deputy governor, told Reuters on Friday.

Currency dealers have said the central bank had not intervened much to defend the currency, which has dropped 5.6 percent this year, even after it hit record lows for 13 straight sessions through Thursday.

On Thursday, the central bank cut net opening positions (NOP) of commercial banks after the rupee, which had weakened 1.2 percent last month, hit a record low of 162.65 against the dollar. The currency recovered after the central bank’s move.

“If we think it is moving due to several other reasons, rather than a global trend, obviously we will intervene,” Weerasinghe told Reuters in an interview.

“We will intervene and we will bring any other measures we think appropriate.”

On Tuesday, the junior finance minister said the government would leave the level of its rupee to market forces to decide.

Banks have been building up reserves on speculation, however, Weerasinghe said.

“We have observed banks have been building up their positions and not converting (the dollars). Without any fundamental reasons, there is no reason to build up reserves.”

The government has not been “influencing or intervening” in the foreign exchange management of the central bank, he added.

“Whether to intervene or not, it is the responsibility of the central bank,” he said, adding that both depreciation and level of intervention has been lower in Sri Lanka than some other countries.

He also said there was no sharp decline in exporter conversions as claimed by currency dealers and the market had seen an average daily transaction volume of $80 million to $120 million.

Weerasinghe said Sri Lanka’s foreign exposure in the government securities was less than 6 percent of total treasury bonds and bills.

Foreign investors have sold a net 46.9 billion rupees ($289.6 million) worth of securities so far this year, central bank data showed. ($1=161.95 Sri Lankan rupees)

Source: Reuters & Adaderana
 which has dropped 5.6 percent this year, even after it hit record lows for 13 straight sessions through Thursday. So when will they Act ?????

Maharaja


Expert
Expert
This government has good vision and plans. But they cannot implement any plan.They depend on western countries and funds to live. IMF and ADB are good examples. They offer very low interest loans compared to high interest Chinese loans. This is very good by government because it reduces our debt cost.

Problem with IMF : They put rules and targets. After rules are reached they issue money. One rule is to build foreign reserves. To intervene in forex government will need to sell foreign reserves. Then it will not be able to build up reserves and satisfy the IMF.

Therefore government cannot practically defend the rupee. The central bank jokers say they will defend, but that is to make banks convert the dollar build ups. Bankers are intelligent than c.b jokers so they correctly predict the dollar to rise.

Government defended rupee at 160. That is why for long time it was not rising, otherwise already dollar 170+. 

Reasons dollar will go up ;

1.) Foreigners are selling bonds in a hurry because SL C.bank is famous as a robbery location by its own government. 

2.) US bonds are more attractive so foreigners move money to US.

3.) Government has no control over economic factors (inflation,interest rates,exchange rate etc.)

4.) Government has very less / historic low investments and projects.

5.) Chinese FDIs has reduced a lot. The relationship with world's new Superpower CHINA is very bad. These jokers treated china badly and now we all are paying for it. 

.
.
.
.
.
 
I can continue if needed.



Maharaja expect the dollar to cross 170 level by Sep. end.
Foreign selling will continue in both stock and bond markets.

Even after new government comes to power in 2020 they cannot correct this economic crisis immediately.
New government will need to bring FDIs and investments into country. Thereafter when money comes into country using FDIs automatically economy will turn positive.Companies will show profits. Share market will turn up automatically.

So even Maharaja need to wait till 2020 and see new government's actions to boost economy.
By 2020 dollar can reach 190+ rupees so government need to put politics away and work for the country. 

No politician will help us, they will buy permits and rob the country. They are all corrupt. We have to choose the best of these corrupt politicians who can do some work for the country.



Maharaja

ranferdi

ranferdi
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Maharaja wrote:This government has good vision and plans. But they cannot implement any plan.They depend on western countries and funds to live. IMF and ADB are good examples. They offer very low interest loans compared to high interest Chinese loans. This is very good by government because it reduces our debt cost.

Problem with IMF : They put rules and targets. After rules are reached they issue money. One rule is to build foreign reserves. To intervene in forex government will need to sell foreign reserves. Then it will not be able to build up reserves and satisfy the IMF.

Therefore government cannot practically defend the rupee. The central bank jokers say they will defend, but that is to make banks convert the dollar build ups. Bankers are intelligent than c.b jokers so they correctly predict the dollar to rise.

Government defended rupee at 160. That is why for long time it was not rising, otherwise already dollar 170+. 

Reasons dollar will go up ;

1.) Foreigners are selling bonds in a hurry because SL C.bank is famous as a robbery location by its own government. 

2.) US bonds are more attractive so foreigners move money to US.

3.) Government has no control over economic factors (inflation,interest rates,exchange rate etc.)

4.) Government has very less / historic low investments and projects.

5.) Chinese FDIs has reduced a lot. The relationship with world's new Superpower CHINA is very bad. These jokers treated china badly and now we all are paying for it. 

.
.
.
.
.
 
I can continue if needed.



Maharaja expect the dollar to cross 170 level by Sep. end.
Foreign selling will continue in both stock and bond markets.

Even after new government comes to power in 2020 they cannot correct this economic crisis immediately.
New government will need to bring FDIs and investments into country. Thereafter when money comes into country using FDIs automatically economy will turn positive.Companies will show profits. Share market will turn up automatically.

So even Maharaja need to wait till 2020 and see new government's actions to boost economy.
By 2020 dollar can reach 190+ rupees so government need to put politics away and work for the country. 

No politician will help us, they will buy permits and rob the country. They are all corrupt. We have to choose the best of these corrupt politicians who can do some work for the country.



Maharaja

You faill to see the International factor that US Dollar Was raising due to raising treasury yields. 
This is the major factor and you avoided same due to your own political patronage. Most of the Asian currencies have depreciated against dollar and some have depreciate more than SLR.

https://www.thestar.com.my/business/business-news/2018/02/21/most-asian-currencies-weaken-as-rising-yields-boost-dollar/

https://www.marketwatch.com/story/dollar-gains-amid-renewed-trump-tariff-angst-2018-07-11

https://www.marketwatch.com/story/dollar-rebounds-after-3-days-of-losses-as-bulls-hope-for-strong-jobs-report-2018-02-02

http://::::THIS EMAIL DOESNT WORK.. PLEASE CONTACT ME ON FB ACCO

Maharaja


Expert
Expert
' 2.) US bonds are more attractive so foreigners move money to US. '


pls read properly before shouting






Maharaja

ranferdi

ranferdi
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Maharaja wrote:' 2.) US bonds are more attractive so foreigners move money to US. '


pls read properly before shouting






Maharaja

I have read so. But the point is that as a fact all the Asian Currencies have devaluated against USD. Pointing to government and bringing other reasons for political patronage is not fair. I accept that this government is not the best but previous was the worst except war win.

http://::::THIS EMAIL DOESNT WORK.. PLEASE CONTACT ME ON FB ACCO

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Miss-Sangeetha wrote:Sri Lanka’s central bank will intervene in the foreign exchange markets if its rupee currency moves for any reasons other than global trends, Nandalal Weerasinghe, the bank’s senior deputy governor, told Reuters on Friday.

Foreign investors have sold a net 46.9 billion rupees ($289.6 million) worth of securities so far this year, central bank data showed. ($1=161.95 Sri Lankan rupees)

Source: Reuters & Adaderana

Sri Lanka among EM countries at risk of Exchange-Rate Crisis,says Nomura analysis- Sunday Times

According to analysis by Nomura Holdings, seven emerging economies including Sri Lanka are at risk of an exchange-rate crisis. The other countries include  South Africa, Argentina, Pakistan, Egypt, Turkey and Ukraine
With five of the seven already in a currency crisis or a program run by the International Monetary Fund, that leaves South Africa and Pakistan as the standouts, Bloomberg reported quoting the research.
Nomura is an Asia-headquartered financial services group with an integrated global network spanning over 30 countries. Nomura's research dates back to 1906, when it became the first company in Japan to establish a research department. Today, Nomura has 300 research specialists stationed in 15 regions around the world, covering politics, economics, foreign exchange, interest rates, equities, credit and quantitative strategies.
At the same time, the eight countries with the lowest risk of a crisis are Brazil, Bulgaria, Indonesia, Kazakhstan, Peru, Philippines, Russia and Thailand, according to analysts including Robert Subbaraman, Singapore-based head of emerging-markets economics.
“This is an important result,” they wrote in a note Monday. “As investors focus more on EM risk it is important not to lump all EMs together as one homogeneous group; Damocles highlights a long list of countries with very low risk of full-blown crises.”
Nomura’s findings are based on an early warning model -- called Damocles -- set up to identify exchange rate crises for 30 emerging economies. The model examines a variety of factors including foreign-exchange reserves, debt levels, interest rates and import cover.
It has predicted two-thirds of the 54 developing nation exchange-rate crises since 1996, up to 12 months in advance, according to the analysts.
“The results we have achieved are encouraging, but given the inherent limitations of any early warning system it would be foolish to make any exaggerated claims,” they said.
Damocles refers to the moral parable the Sword of Damocles, an allusion to imminent and ever-present danger 

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@DS Wijesinghe wrote:
@Miss-Sangeetha wrote:Sri Lanka’s central bank will intervene in the foreign exchange markets if its rupee currency moves for any reasons other than global trends, Nandalal Weerasinghe, the bank’s senior deputy governor, told Reuters on Friday.

Foreign investors have sold a net 46.9 billion rupees ($289.6 million) worth of securities so far this year, central bank data showed. ($1=161.95 Sri Lankan rupees)

Source: Reuters & Adaderana

Sri Lanka among EM countries at risk of Exchange-Rate Crisis,says Nomura analysis- Sunday Times

According to analysis by Nomura Holdings, seven emerging economies including Sri Lanka are at risk of an exchange-rate crisis. The other countries include  South Africa, Argentina, Pakistan, Egypt, Turkey and Ukraine
With five of the seven already in a currency crisis or a program run by the International Monetary Fund, that leaves South Africa and Pakistan as the standouts, Bloomberg reported quoting the research.
Nomura is an Asia-headquartered financial services group with an integrated global network spanning over 30 countries. Nomura's research dates back to 1906, when it became the first company in Japan to establish a research department. Today, Nomura has 300 research specialists stationed in 15 regions around the world, covering politics, economics, foreign exchange, interest rates, equities, credit and quantitative strategies.
At the same time, the eight countries with the lowest risk of a crisis are Brazil, Bulgaria, Indonesia, Kazakhstan, Peru, Philippines, Russia and Thailand, according to analysts including Robert Subbaraman, Singapore-based head of emerging-markets economics.
“This is an important result,” they wrote in a note Monday. “As investors focus more on EM risk it is important not to lump all EMs together as one homogeneous group; Damocles highlights a long list of countries with very low risk of full-blown crises.”
Nomura’s findings are based on an early warning model -- called Damocles -- set up to identify exchange rate crises for 30 emerging economies. The model examines a variety of factors including foreign-exchange reserves, debt levels, interest rates and import cover.
It has predicted two-thirds of the 54 developing nation exchange-rate crises since 1996, up to 12 months in advance, according to the analysts.
“The results we have achieved are encouraging, but given the inherent limitations of any early warning system it would be foolish to make any exaggerated claims,” they said.
Damocles refers to the moral parable the Sword of Damocles, an allusion to imminent and ever-present danger 

This is from Derana not Economy next- Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_winkhttp://bizenglish.adaderana.lk/clarification-on-the-erroneous-report-regarding-sri-lanka-issued-by-nomura-holdings/


Clarification on the Erroneous Report regarding Sri Lanka issued by Nomura Holdings

September, 11, 2018

Several international media sites have quoted a new analysis by Nomura Holdings Inc., which shows that seven emerging economies are at risk of an exchange rate crisis. According to these media sites, Nomura’s analysis lists Sri Lanka as the country that is most vulnerable to an exchange rate crisis. The article that appeared on www.ft.comquotes Nomura analysts as saying Sri Lanka had the worst outlook, and “with high short term external debt (US$ 160 billion), [Sri Lanka]’s refinancing needs are large.”
Given the fact that Sri Lanka’s short term external debt is nowhere near the US$ 160 billion figure that Nomura analysts have quoted, it appears that Nomura Holdings have made a serious computational error with regard to Sri Lanka’s external vulnerability.
As such an erroneous report could to trigger an unwarranted panic amongst investors, particularly in the context of current volatile global market conditions, the Central Bank of Sri Lanka has already written to Nomura Holdings, and requested them to correct this error without any delay.
- CBSL

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
It is the response by the Central Bank which is grappling with this issue and denying any such danger

Will Foreign Investors and International Community believe the denial from our Central Bank which is now identified with a bank robbery govt. causing massive losses to the country or AN INDEPENDENT INTERNATIONAL ORGANISATION FROM JAPAN?

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@DS Wijesinghe wrote:It is the response by the Central Bank which is grappling with this issue and denying any such danger

Will Foreign Investors and International Community believe the denial from our Central Bank which is now identified with a bank robbery govt. causing massive losses to the country or AN INDEPENDENT INTERNATIONAL ORGANISATION FROM JAPAN?
Well DS, Today foreign INFLOW 74MN and lets see coming weeks Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink leave the politics ......It's not MR or M3/Ranil property and as investors we should be happy if MR Market goes up Central Bank will intervene if rupee moves on speculation – official Icon_biggrin

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@ruwan326 wrote:
@DS Wijesinghe wrote:It is the response by the Central Bank which is grappling with this issue and denying any such danger

Will Foreign Investors and International Community believe the denial from our Central Bank which is now identified with a bank robbery govt. causing massive losses to the country or AN INDEPENDENT INTERNATIONAL ORGANISATION FROM JAPAN?
Well DS, Today foreign INFLOW 74MN and lets see coming weeks Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink leave the politics ......It's not MR or M3/Ranil property and as investors we should be happy if MR Market goes up Central Bank will intervene if rupee moves on speculation – official Icon_biggrin
Leave politics aside Ruwan and come to terms with the reality

Rather than looking at figures on a daily basis I look at the big picture. Yesterday very proudly you said the net inflow is Rs. 74 Mn but Today the stock net outflow is Rs. 145 Mn

One way is to look at the Year to-date. You post summary of foreign stock transactions regularly in this forum and can you please share the year to-date value ? Is the CSE net out flow now close to Rs. 3 Billion ?

According to Reuters 

Foreign investors have sold a net 46.9 billion rupees ($289.6 million) worth of securities so far this year, central bank data showed. ($1=161.95 Sri Lankan rupees)

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@DS Wijesinghe wrote:
@ruwan326 wrote:
@DS Wijesinghe wrote:It is the response by the Central Bank which is grappling with this issue and denying any such danger

Will Foreign Investors and International Community believe the denial from our Central Bank which is now identified with a bank robbery govt. causing massive losses to the country or AN INDEPENDENT INTERNATIONAL ORGANISATION FROM JAPAN?
Well DS, Today foreign INFLOW 74MN and lets see coming weeks Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink Central Bank will intervene if rupee moves on speculation – official Icon_wink leave the politics ......It's not MR or M3/Ranil property and as investors we should be happy if MR Market goes up Central Bank will intervene if rupee moves on speculation – official Icon_biggrin
Leave politics aside Ruwan and come to terms with the reality

Rather than looking at figures on a daily basis I look at the big picture. Yesterday very proudly you said the net inflow is Rs. 74 Mn but Today the stock net outflow is Rs. 145 Mn

One way is to look at the Year to-date. You post summary of foreign stock transactions regularly in this forum and can you please share the year to-date value ? Is the CSE net out flow now close to Rs. 3 Billion ?

According to Reuters 

Foreign investors have sold a net 46.9 billion rupees ($289.6 million) worth of securities so far this year, central bank data showed. ($1=161.95 Sri Lankan rupees)
YTD outflow RS 4.42 BN

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
That's the figure we are worried about and not the once in a way a day's net foreign inflow figure

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@DS Wijesinghe wrote:That's the figure we are worried about and not the once in a way a day's net foreign inflow figure
Don't worry too much DS,
Wait till EPF come back.

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@ruwan326 wrote:
@DS Wijesinghe wrote:That's the figure we are worried about and not the once in a way a day's net foreign inflow figure
Don't worry too much DS,
Wait till EPF come back.

The question is 'when' Ruwan.

In the first place this govt (sorry you might get hurt but I have to tell this) should not have stopped EPF investing in the CSE. They told the people that EPF money was used for SOME shady share deals(which is true) in the CSE and therefore stopping it

They stopped investing in CSE and instead invested in the fraudulent bonds causing massive losses to EPF

Do we need ADB to tell us to restart investing in CSE? Is this govt(sorry but have to mention) so short of some brains?

Please remember that the mandate of EPF is not to bail out the Colombo Stock market. It's mandate is to earn the best possible return to it's members. I hope they will not go and dump EPF money to buy JKH @130-140/- 

Govt should not use EPF money to bail out foreign or local investors trapped with their investments in the CSE

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@DS Wijesinghe wrote:
@ruwan326 wrote:
@DS Wijesinghe wrote:That's the figure we are worried about and not the once in a way a day's net foreign inflow figure
Don't worry too much DS,
Wait till EPF come back.

The question is 'when' Ruwan.

In the first place this govt (sorry you might get hurt but I have to tell this) should not have stopped EPF investing in the CSE. They told the people that EPF money was used for SOME shady share deals(which is true) in the CSE and therefore stopping it

They stopped investing in CSE and instead invested in the fraudulent bonds causing massive losses to EPF

Do we need ADB to tell us to restart investing in CSE? Is this govt(sorry but have to mention) so short of some brains?

Please remember that the mandate of EPF is not to bail out the Colombo Stock market. It's mandate is to earn the best possible return to it's members. I hope they will not go and dump EPF money to buy JKH @130-140/- 

Govt should not use EPF money to bail out foreign or local investors trapped with their investments in the CSE
What ever you said to present government or past government doesn't bother me. Sri lankan politics never bring us anything and we all know for last 70 years same ministers all the way changing parties and only president/prime minister change.

Day by day this country heading toward worst countries list, don't expect politicians will save us.

every one talk about corruption when they don't have power and once they got the power same shit...........

ranferdi

ranferdi
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@DS Wijesinghe wrote:
@ruwan326 wrote:
@DS Wijesinghe wrote:That's the figure we are worried about and not the once in a way a day's net foreign inflow figure
Don't worry too much DS,
Wait till EPF come back.

The question is 'when' Ruwan.

In the first place this govt (sorry you might get hurt but I have to tell this) should not have stopped EPF investing in the CSE. They told the people that EPF money was used for SOME shady share deals(which is true) in the CSE and therefore stopping it

They stopped investing in CSE and instead invested in the fraudulent bonds causing massive losses to EPF

Do we need ADB to tell us to restart investing in CSE? Is this govt(sorry but have to mention) so short of some brains?

Please remember that the mandate of EPF is not to bail out the Colombo Stock market. It's mandate is to earn the best possible return to it's members. I hope they will not go and dump EPF money to buy JKH @130-140/- 

Govt should not use EPF money to bail out foreign or local investors trapped with their investments in the CSE

Agreed.. We need an independent group of Fund Managers in EPF to manage the funds to recommend shares.

http://::::THIS EMAIL DOESNT WORK.. PLEASE CONTACT ME ON FB ACCO

Miss-Sangeetha

Miss-Sangeetha
Moderator
Moderator
Sri Lanka Rupee hits fresh low

The Sri Lankan Rupee dropped to new record low on Friday as the selling price reached 164.37 against the US Dollar.

The Central Bank of Sri Lanka (CBSL) has recorded the buying price at 160.94.

The local currency surpassed an earlier low of 162.92, hit in the previous session.

The rupee is down 1.2 percent this month and 6.5 percent so far this year.

Source- Adaderena

Miss-Sangeetha

Miss-Sangeetha
Moderator
Moderator
Sri Lankan rupee plunges further low

 Sri Lankan Rupee plunges further to a new low against the US Dollar as the selling pries reaches Rs 165.14, reports Central bank of Sri Lanka.

The buying price of a US Dollar is marked at Rs 161.81 and this is the 1st time Sri Lankan Rupee has surpassed these marks.

Meanwhile, on Friday (14)the selling price of a US Dollar surpassed Rs 164.

 

www.adaderana.lk/news/50064/sri-lankan-rupee-plunges-further-low

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