The Sri Lankan has depreciated against the US Dollar, today (20), to a new record low as the selling rate closed at Rs 168.63.
Meanwhile, the buying rate of the US Dollar has reached Rs 165.08, stated Central Bank of Sri Lanka.
Source-Adaderana
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TuTanKaman wrote:US increasing rate. SL has so far not increased. thats why usd is strengthening. In contrast to previous regime cbsl is not releasing dollar reserve to the market to stabilize.
Read the economic concept of 'impossible trinity'
Previous regime forcefully made it possible. And now we are fealing the impact so high than others. Mind you populist economic policies can win election but not a sustainable economy.
I expect interest rate to go up in the future.
Miss-Sangeetha wrote:Sri Lankan Rupee drops to Another new low
The Sri Lankan Rupee has further depreciated against the US Dollar as the selling price reached 171.42 - a new record low - on Thursday.
Meanwhile the buying price of the US Dollar is at Rs 167.55, according to the Central Bank of Sri Lanka (CBSL).
The Government announced several temporary measures last week to ease the pressure on the Sri Lankan rupee.
The Central Bank says it has intervened by US$ 184 million on a net basis so far this year to defend the depreciation of the Sri Lankan Rupee.
“So far we’ve had a 9.5% depreciation but on a net basis so far we have only spent US$ 184 million,” CBSL Governor Dr. Indrajit Coomaraswamy told reporters on Tuesday.
Source- Adadana
Isn't North & East in Srilanka!!!!!samaritan wrote:President or PM is not at all concerned about rupee depreciation. Their focus is on competing to secure their vote base in the North & East for the next election. In the mean time i go Norway, you go Seychelles and let the rupee go to Timbuktu!
Did it take 4 years for President to know that North & East is in SL?????Yahapalanaya wrote:Isn't North & East in Srilanka!!!!!samaritan wrote:President or PM is not at all concerned about rupee depreciation. Their focus is on competing to secure their vote base in the North & East for the next election. In the mean time i go Norway, you go Seychelles and let the rupee go to Timbuktu!
Last edited by Miss-Sangeetha on Sun Oct 14, 2018 9:32 am; edited 1 time in total
ඔයා පරණ NEWS නේ දාන්නේMiss-Sangeetha wrote:US$ 184 Million spent to defend Rupee CBSL GovernorSource- Adaderana
If ssomehow we can get this money.please Mr RAJITHA please help ussoileconomy wrote:Re: Meka Mahinda Rajapaksege Wadak on Fri Jan 15, 2016 2:11 am
Yahapalanaya
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Location : North America=25e29421d6de8bd6b1bc233dd3d004e2&cvf[1]=61ff13e906f4ab9f391e8be8b15705d6&eval=plus&p_vote=300099]+----=aa1335c1a98e20847b83b51523ad7227&cvf[1]=d968d9057646c61ed072a7ed8fb96ae2&eval=minus&p_vote=300099]-"Royal" billions in Dubai Bank unraveledJAN
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Appropriate legal measures will be taken in connection with the massive amounts of US dollars deposited in a Dubai Bank by a member of "royal" family during the previous regime soon after the details of the transactions of those accounts is provided by the Federal Reserves in the United States, said Cabinet Spokesman and Health Minister Dr. Rajitha Senaratne. He said that according to reliable details available so far USD 1.086 billion are lying in one account which is owned by one member of the previous government's VVIP family. He made this observation yesterday at the cabinet briefing held at the Information Department auditorium.
"In the account of another close associate of the same VVIP family, who was also a businessman a sum of USD 500 million has been deposited while a joint account of a Ministry Secretary of the previous regime and another person had USD 1.8 billion", Minister Rajith Senaratne said.
"All these monies are in the accounts of Dubai Banks and the money has been earned by illegal means. However every dollar that is transacted is recorded in the Federal Reserve". He said the government has requested details of these accounts from the Federal Reserve to support the investigations. He added that the Federal Reserve in the US has asked for a considerable time period to find out the details of the US dollars that had been transacted through those accounts as billions of US dollars are being transacted daily.
The Minister made these remarks when a media personnel queried a statement by Chathura Senarate that said he saw the money earned illegally by the VVIPs of the previous government. The Minister said that Chathura said he saw the documents pertaining to those illegal transactions. Mass Media and Parliamentary Affairs Minister Gayantha Karunathilake, Justice and Buddhasasana Minister Wijedasa Rajapaksa. and Army Spokesman Brigadier Jayantha Jayaweera also spoke at the occasion
If both parties collected the stolen money(for last 70 years) as they say we can pay all the foreign debts and distribute the rest to peoplesoileconomy wrote:If ssomehow we can get this money.please Mr RAJITHA please help ussoileconomy wrote:Re: Meka Mahinda Rajapaksege Wadak on Fri Jan 15, 2016 2:11 am
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Location : North America=25e29421d6de8bd6b1bc233dd3d004e2&cvf[1]=61ff13e906f4ab9f391e8be8b15705d6&eval=plus&p_vote=300099]+----=aa1335c1a98e20847b83b51523ad7227&cvf[1]=d968d9057646c61ed072a7ed8fb96ae2&eval=minus&p_vote=300099]-"Royal" billions in Dubai Bank unraveledJAN
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Sandasen MARASINGHE
Appropriate legal measures will be taken in connection with the massive amounts of US dollars deposited in a Dubai Bank by a member of "royal" family during the previous regime soon after the details of the transactions of those accounts is provided by the Federal Reserves in the United States, said Cabinet Spokesman and Health Minister Dr. Rajitha Senaratne. He said that according to reliable details available so far USD 1.086 billion are lying in one account which is owned by one member of the previous government's VVIP family. He made this observation yesterday at the cabinet briefing held at the Information Department auditorium.
"In the account of another close associate of the same VVIP family, who was also a businessman a sum of USD 500 million has been deposited while a joint account of a Ministry Secretary of the previous regime and another person had USD 1.8 billion", Minister Rajith Senaratne said.
"All these monies are in the accounts of Dubai Banks and the money has been earned by illegal means. However every dollar that is transacted is recorded in the Federal Reserve". He said the government has requested details of these accounts from the Federal Reserve to support the investigations. He added that the Federal Reserve in the US has asked for a considerable time period to find out the details of the US dollars that had been transacted through those accounts as billions of US dollars are being transacted daily.
The Minister made these remarks when a media personnel queried a statement by Chathura Senarate that said he saw the money earned illegally by the VVIPs of the previous government. The Minister said that Chathura said he saw the documents pertaining to those illegal transactions. Mass Media and Parliamentary Affairs Minister Gayantha Karunathilake, Justice and Buddhasasana Minister Wijedasa Rajapaksa. and Army Spokesman Brigadier Jayantha Jayaweera also spoke at the occasion
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