Sri Lanka Rupee Exchange Rates

Sri Lanka has to stabilize exchange rate, simplify taxes: Rajapaksa

Oct 31, 2018

Sri Lanka has to stabilize the exchange rate, simplify taxes and localize the economy, Mahinda Rajapaksa who was appointed finance minister by President Maithripala amid an intensifying political crisis, said after assuming duties.

"We have to stabilize the exchange rate, we have to protect foreign reserves," Rajapaksa said.

"We have to boost exports and tourism. Taxes have to be simplified."

He said the ability to pay has to be considered when charging taxes.

Local businesses have to take the lead in taking the economy forward and the 'foreignization' (videshakaranaya) of the economy has to be halted he said.

Rains have also come for farmers probably as a good omen of the government change, which will help farming and power generation, Rajapaksa said.

The fuel pricing formula has introduced too much uncertainty and a different mechanism will have to be found the adjust prices he said like in the past.

Sri Lanka was made self sufficient in maize he said.
https://economynext.com/Sri_Lanka_ha...3-12406-1.html

ruwan326 wrote:Sri Lanka has to stabilize exchange rate, simplify taxes: Rajapaksa

Oct 31, 2018

Sri Lanka has to stabilize the exchange rate, simplify taxes and localize the economy, Mahinda Rajapaksa who was appointed finance minister by President Maithripala amid an intensifying political crisis, said after assuming duties.

"We have to stabilize the exchange rate, we have to protect foreign reserves," Rajapaksa said.

"We have to boost exports and tourism. Taxes have to be simplified."

He said the ability to pay has to be considered when charging taxes.

Local businesses have to take the lead in taking the economy forward and the 'foreignization' (videshakaranaya) of the economy has to be halted he said.

Rains have also come for farmers probably as a good omen of the government change, which will help farming and power generation, Rajapaksa said.

The fuel pricing formula has introduced too much uncertainty and a different mechanism will have to be found the adjust prices he said like in the past.

Sri Lanka was made self sufficient in maize he said.
https://economynext.com/Sri_Lanka_ha...3-12406-1.html

Looks like Wele Sutha saying to prevent drug traffiking...

ruwan326 wrote:Sri Lanka has to stabilize exchange rate, simplify taxes: Rajapaksa

Oct 31, 2018

Sri Lanka has to stabilize the exchange rate, simplify taxes and localize the economy, Mahinda Rajapaksa who was appointed finance minister by President Maithripala amid an intensifying political crisis, said after assuming duties.

"We have to stabilize the exchange rate, we have to protect foreign reserves," Rajapaksa said.

"We have to boost exports and tourism. Taxes have to be simplified."

He said the ability to pay has to be considered when charging taxes.

Local businesses have to take the lead in taking the economy forward and the 'foreignization' (videshakaranaya) of the economy has to be halted he said.

Rains have also come for farmers probably as a good omen of the government change, which will help farming and power generation, Rajapaksa said.

The fuel pricing formula has introduced too much uncertainty and a different mechanism will have to be found the adjust prices he said like in the past.

Sri Lanka was made self sufficient in maize he said.
https://economynext.com/Sri_Lanka_ha...3-12406-1.html

First Stabilize the premiership which was robbed. Hope the days are numbered.

ranferdi wrote:

ruwan326 wrote:Sri Lanka has to stabilize exchange rate, simplify taxes: Rajapaksa

Oct 31, 2018

Sri Lanka has to stabilize the exchange rate, simplify taxes and localize the economy, Mahinda Rajapaksa who was appointed finance minister by President Maithripala amid an intensifying political crisis, said after assuming duties.

"We have to stabilize the exchange rate, we have to protect foreign reserves," Rajapaksa said.

"We have to boost exports and tourism. Taxes have to be simplified."

He said the ability to pay has to be considered when charging taxes.

Local businesses have to take the lead in taking the economy forward and the 'foreignization' (videshakaranaya) of the economy has to be halted he said.

Rains have also come for farmers probably as a good omen of the government change, which will help farming and power generation, Rajapaksa said.

The fuel pricing formula has introduced too much uncertainty and a different mechanism will have to be found the adjust prices he said like in the past.

Sri Lanka was made self sufficient in maize he said.
https://economynext.com/Sri_Lanka_ha...3-12406-1.html

First Stabilize the premiership which was robbed. Hope the days are numbered.

I thought it was the Central Bank that was robbed and the Premier was removed by the President lawfully. B'cos if there was anything unlawful the affected party would have gone to Supreme Court to reverse President's decision of removal.

[size=48]Harsha blames MR for ruining economy[/size]

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Comments /  30 Views / Friday, 2 November 2018 00:00

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• Says political turmoil is prompting rating agencies to tag SL as credit negative  
  
• IMF staff level agreement postponed 
  
• Claims stock market rise due to manipulations by a handful of people 
  
• Worried CB fighting lone battle to hold rupee 
  

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 United National Party (UNP) yesterday blamed the current political crisis of the country having a detrimental effect on Sri Lanka’s economy with agencies threatening to downgrade the country’s credit ratings

The Deputy Minister of State for National Policies and Economic Affairs of the Sirisena-Wickremesinghe Government Dr. Harsha De Silva claimed that the country’s economy has taken a serious blow to fulfil selfish political ambitions of a handful of people.

“People should know what has happened to Sri Lanka’s economy by this situation. The credit rating agencies are threatening to downgrade our country. We hear that the Central Bank was in desperate discussions yesterday with the credit agencies to prevent this. The IMF has not finalised an agreement that was supposed to be signed on Monday. It is the people who will pay,” he said, speaking at a media briefing held at Temple Trees, the Official Residence of the Prime Minister.  

According to him, the International Monetary Fund (IMF) has put on hold a staff level agreement which was to be signed with the Ministry of Finance on Monday. 

Following the constitutional crisis that developed over the weekend, the IMF has put the matter on hold, he said  

The UNP, which has made Temple Trees the battle headquarters of the Party, called on the Rajapaksa faction to ‘rescue the rupee’ as they claimed they would after taking over the Government. 

“The rupee continues to still fall. Now at least they should realise that it was not a political issue linked with our Government, but an issue with the current situation in the international market,” Dr. de Silva claimed. 

“Where are the so-called economic experts now? They should have been able to strengthen the currency as they said. It should have been brought to Rs. 150 per dollar by now,” he charged, adding that one of the country’s main foreign exchange earners, tourism, has taken an even more serious hit due to the current political situation. 

“Sri Lanka was named the top destination only a week ago. Today, there are travel advisories against coming to Sri Lanka. Tickets have been cancelled. They have undone everything we worked so hard to build,” he said.  

The international Bonds have taken a serious hit, he said, claiming that some interest has shot up. 

Dr. de Silva claimed that the stock market turning bullish was a result of manipulation by a handful of people where pump and dump was being practiced. 

“They can raise it only to dump later,” he claimed. 

Confident of regaining power by next week, Dr. de Silva claimed that they have given assurances that the economy which the “UNP worked hard to restore”, will be back to normal soon. 

“Investors rating agencies are in dialogue with us and we have said that this setback is temporary, and we have told them the economy will be back to normal. We have today and tomorrow before Mahinda Rajapaksa, the bogus Finance Minister, goes home on Monday. It is now evident to everyone that they cannot do any of the things they claimed. It was only shop talk,” he said.  
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Remember the foot note clique. The threats leveled at former COPE chairman Sunil Handunnetti.
Credibility in QUESTION???????????????

Another record breaking year. This kind of scenario stocks should down , experience  investors gradually selling. Less experience retailers are buying.

@teller -even ASPI is drop 20% from all time high some sharesa are 50% crashed or compared to all time high 65% crashed like banks. are you against buy Sampath @ 150 levels for 10 year period??

I hold sampath as investment , bought 6 years before.
I use the special shrare holder service desk when im in sri lanka. Do you know??, if you have 1 share of Sampath, you are entitle for special benifits

Teller wrote:I hold sampath  as investment , bought 6 years before.
I use the special shrare holder service desk when im in sri lanka. Do you know??, if you have 1 share of Sampath, you are entitle for special benifits

wow, super NE 

Would you mind letting us know what are those benefits are. thanks.

If i visit kegalle branch, they treat me a cup of ceylon tea. Typically kegalle,kandy,mathale people have more hospitality characteristics

Teller wrote:If i visit kegalle branch, they treat me a cup of ceylon tea. Typically kegalle,kandy,mathale people have more hospitality characteristics

no 1 beniit,

NO NEED TO BE IN WAITING..NO NEED TO FILL THE FORMS

havent your guys tried? There is a special share holder counter in any main branches .

@Teller - No need special treatments . me para divident eka adu nokara dunnoth athi

@Teller - Even you accept or not some bank shares are very less risky at current prices. specially SAM/NDB /COMMERCIAL  thease are divident paying stocks .

You didnt answer my question. do you recomend SAMPATH @ 150 levels???
Do your boss will fire you if you tell the thruth??? 

what i beleave is .if economy turns sam will easyly hit 80 EPS within 2 /3 years share price will plumet.
patience is required. i have studied this stock from past 10 year annual reports . thease kind of EPS contractions will be there at SAM for few years and Again EPS will become high. its very unlikely. i think next 10 year SAM range is 140 low to 1000+ high. 150 levels is less risky according to my view

ThilinaM wrote:@Teller - No need special treatments . me para divident eka adu nokara dunnoth athi

hahahah 

still 181.83 men if raised to 188 it will only be 3.5% increase . most of my investment retuens EPS/Price is like 20%+ who care 3%. loss company or 1 year loss 1 year profit company gatta unta nan kelawei.
i think next big loss to tokyo.N and X

I dont buy current prices. If i buy it will be 125 levels

except a war or big political instability SAM will not come to 125.

you told 6 years ago you bought SAM . 6 year ago best price you can get was 130 range. why are u now telling 125??  what is the reason???

ew if i had SAMP in 2017 , i would sell them at 300 levels for sure.
actually that was a mistake u guys did. isn't it? 

@kavindu - who the hell know price will go this mutch low. best option is average the price. SAM is still not bad fundamentaly. should be a tempory shok