The Investor Sentiment - Equity and investments forum for Sri Lankans



Join the forum, it's quick and easy

The Investor Sentiment - Equity and investments forum for Sri Lankans

The Investor Sentiment - Equity and investments forum for Sri Lankans

Would you like to react to this message? Create an account in a few clicks or log in to continue.
The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting

Latest topics

» CCS.N0000 ( Ceylon Cold Stores)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

» In the Meantime Within Our Shores!
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Mar 15, 2023 4:27 pm by katesmith1304

» GLAS.N0000 (Piramal Glass Ceylon PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

» Cboe Volatility Index
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyFri Mar 10, 2023 1:47 pm by කිත්සිරි ද සිල්වා

» CSD.N0000 (Seylan Developments PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Mar 08, 2023 5:30 pm by කිත්සිරි ද සිල්වා

» NTB.N0000 (Nations Trust Bank PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyThu Mar 02, 2023 10:22 am by කිත්සිරි ද සිල්වා

» Re-activating
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyTue Feb 14, 2023 3:54 pm by ruwan326

» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

» DV-2024 Program: Online Registration
Sri Lankan rupee at 6-month high on remittances; faces upward pressure EmptyThu Oct 06, 2022 11:26 am by කිත්සිරි ද සිල්වා

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

    Sri Lankan rupee at 6-month high on remittances; faces upward pressure

    Ethical Trader
    Ethical Trader
    Top contributor
    Top contributor


    Posts : 5568
    Join date : 2014-02-28

    Sri Lankan rupee at 6-month high on remittances; faces upward pressure Empty Sri Lankan rupee at 6-month high on remittances; faces upward pressure

    Post by Ethical Trader Fri May 09, 2014 5:20 pm

    Sri Lankan rupee at 6-month high on remittances; faces upward pressure
    May 9, 2014 02:57 pm
    Ada Derana

    The Sri Lankan rupee traded at its highest level in more than six months on Friday due to inflows from remittances, with dealers saying the local currency is gaining in the absence of credit demand and imports.

    The rupee was traded at 130.38/42 per dollar at 0635 GMT, its highest intraday level since Nov. 7, and firmer from Thursday’s close of 130.50/52.

    “We are giving effect to the present trend in a gradual manner,” central bank Governor Ajith Nivard Cabraal told Reuters.

    Dealers said steady inflows from remittances and exporter conversions amid lack of importer dollar demand led to appreciation in the local currency.

    “There is no intervention from the central bank and one state bank was buying on behalf of a state-run oil firm. The state bank was buying at 130.40 rupees per dollar,” said a currency dealer on condition of anonymity.

    The currency ended firmer at its highest close since Oct. 24 on Thursday after one of the two state banks, through which the central bank usually intervenes in the market, stopped buying the dollar at 130.60 and allowed market forces to determine the level of the rupee.

    Many dealers said the rupee would be under upward pressure until lower credit growth and imports reverse their trend.

    Despite a multi-year low interest rate regime, latest data showed private sector credit grew 4.4 percent in February from a year earlier, the slowest expansion since May 2010, while imports in February fell 6.2 percent on year.

    Dealers said lack of credit expansion and a contraction in imports could hit economic growth unless the government props up expansion through infrastructure funding.

    The central bank, in its monetary policy statement last month, however expressed confidence that private sector credit growth would rebound in the second quarter and push up the pace of economic growth.

    The currency has been hovering between 130.55 and 130.70 since March 3, Thomson Reuters data showed, with the central bank intervening to smoothen any sharp volatility.

    Sri Lanka’s main stock index was up 0.34 percent, or 21.07 points, at 6,296.80 as of 0653 GMT, its highest since Dec. 6. Turnover was at 6.8 billion rupees ($52.11 million), with 613.5 million shares changing hands. - Reuters

      Current date/time is Thu Jun 20, 2024 12:17 pm