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CB affirms rupee at 125

31 May 2012 04:40 am - 43     - {{hitsCtrl.values.hits}}

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Denying media reports, the Central Bank affirmed that the exchange rate will stabilize below Rs.125 against the US dollar.
 
Reuters, quoting the Central Bank's Research Department head Swarna Gunewardena, said that that the rupee will stabilize around 132 against the US dollar, without the intervention.
 
"We wish to categorically deny this claim, which is completely inaccurate and a misinterpretation of facts by the reporter," the Central bank statement said.
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  Comments - 43

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  • Binu Friday, 01 June 2012 05:44 AM

    Central Bank's Research Department head
    another simple accountant at the top

    Calistus Jayatilleke Thursday, 31 May 2012 12:30 PM

    Whlst the rupee and the general public are floating, Cabraal with his clan and political masters have more than stabilized. Truly the Miracle of Asia.

    ase Thursday, 31 May 2012 06:27 AM

    We must have real heads at the top, not slops, flops and ran aways back from the back door. This is the result of it.

    sunil chandra Thursday, 31 May 2012 01:16 PM

    We cant beleive CB anymore.

    Raj Thursday, 31 May 2012 06:47 AM

    EPF money ?

    Raj Thursday, 31 May 2012 06:50 AM

    According to Central Website the selling rate of US$ is Rs.134.00. Who is fooling whom?

    Farzan Thursday, 31 May 2012 06:59 AM

    As of today 31st May 2012 it is Rs.134 in the Central Bank Exchange rate link in their own website.

    Farzan Thursday, 31 May 2012 07:03 AM

    It can be understood there is big mis-management of funds at all the levels.

    Gamlath Thursday, 31 May 2012 01:31 PM

    Government has no say on this matter this situation can only be improved through a foreign direct investment or by IMF loans. No one shouldn't forcast how currency rates would stand out, it shows that they are not aware of basic economic
    principles.

    Farzan Thursday, 31 May 2012 07:05 AM

    I hope you are not in Sri Lanka. Thinking about your Exchange gains.

    Manesh Thursday, 31 May 2012 07:12 AM

    We who ?

    Chatura Thursday, 31 May 2012 07:10 AM

    Kabraal is full of bull crap as usual. At least we can be sure that whatever he states the opposite is bound to happen.

    sajitha Thursday, 31 May 2012 07:16 AM

    Is this statement made with responsibility? Will the Central bank Governor resighn if it does not stabilize at 125?

    Big Joke!

    upul Thursday, 31 May 2012 07:32 AM

    Why Not ? First of all , Law an Order must be established. Did like Li- Kuwan Yu in Singapore .

    Kadiya Thursday, 31 May 2012 08:05 AM

    Unless CB intervene it will move and not even God can keep it constant. If CB think of intervening again it will be a failure as it happened some months back. This Cabral fellow is operating unprofessionally.

    Raymond Punchisingho Thursday, 31 May 2012 08:08 AM

    By artificially propping up the ruppee, using foreign remittances and borrowings, imports are given preference over exports. Consumption and sale of foreign goods generate wealth for the favoured unproductive few, at the cost of the earnings of our future generations. (ie HJ) Ultimately consumption is favored over innoivative production. The rat race for foreign currency acquisition accelerates, Laziness thrives, partly caused by lack of opportunities to do ones bit for the country. Ultimately all of Sri Lanka may get mortgaged against foreign aid.

    dellbell Saturday, 02 June 2012 01:42 AM

    I'm sick of it

    Kabi Thursday, 31 May 2012 08:27 AM

    CB trying again to get $500mi. from IMF to stebalise the Ruppe.

    sabs Thursday, 31 May 2012 03:56 PM

    when this country run by a bunch of monkies you will never ever talk about the currency or economy because you dunno what it mean

    rat Thursday, 31 May 2012 08:36 AM

    Kabral is better qualified than Ravi K , Ravi K holds only CIMA , whereas Kabral is having Three to four qualifications ...

    senthil Thursday, 31 May 2012 04:11 PM

    go and bid for some more games

    Roshanaly Thursday, 31 May 2012 08:42 AM

    Mr. Cabraal is just a puppet, he is being manipulated by the some powerful figure.

    raman Thursday, 31 May 2012 08:47 AM

    Who are we ?

    kj Thursday, 31 May 2012 08:52 AM

    Will stabilize. So when??? I have been waiting for so many weeks

    Hussain Thursday, 31 May 2012 05:56 PM

    I just now checked the international exchange rate for currencies,It shows:

    one US dollar = SL Rupees 132/-

    TMA Thursday, 31 May 2012 09:05 AM

    Few days later they'll say it's gone up

    VB70A Thursday, 31 May 2012 09:07 AM

    li Kuwan Yu made the opposition disappear. MR is on the right track !

    ahamed Saturday, 02 June 2012 04:31 AM

    which qualification? like Dr. Marvin silva?
    He was the past president of ICASL. you see how the ICASL qualified will do? They not realise what they are doing.

    Wotson Friday, 01 June 2012 12:31 PM

    Mr. Holmes I think this Shai is beeing sarcastic.

    Wotson Friday, 01 June 2012 12:32 PM

    Do you mean the UAE or Sri Lanka???

    Rohan Thursday, 31 May 2012 09:42 AM

    Correct, Looks like CBSL governor and Treasury secretary do not know proper Economics and Finance. They are just confused or else they are trying to please the Finance minister by playing short term artificial gimmicks. Never heard of any country selling their $ reserves and buy back local currency and when local currency is in short supply printing those again.

    moda banda Friday, 01 June 2012 04:37 AM

    budget deficit means rupee loosing value.
    Buy more cars.

    dalu bandalu Thursday, 31 May 2012 04:48 AM

    Will stabilize means? Kabral is not sure. He he

    tarzan Thursday, 31 May 2012 04:46 AM

    we never can make this country better

    Sanjay Thursday, 31 May 2012 04:52 AM

    Then how come the dollar has been hovering around 132 for the past few days with no sign of declining??

    Shai Thursday, 31 May 2012 04:54 AM

    We belive you sir.....

    BlindSide Thursday, 31 May 2012 05:04 AM

    What is the meaning of float?

    Kondebandapucheena Thursday, 31 May 2012 05:12 AM

    Mr.Cabbral Don't panic we knew rupee is runaway out of your hand these days

    UAE Thursday, 31 May 2012 05:26 AM

    We as a country need to get up and see how people around the world has developed. it is time to creat history and than talk history. To do all that first thing is that we need governance in Sri lanka at every level. Even at Central bank level and appointments are part of the governance process.

    Navin Thursday, 31 May 2012 05:26 AM

    Mr. Cabral is a Financial Accountant, not an Economist. Whats the difference you ask? Accountants tell you what happened after the fact :)

    TREASURY MANAGER Thursday, 31 May 2012 05:32 AM

    Dear Anxieties , It is forex it moves on its on ...... The Monetarily powerfull swiss finance minister tries to weak his currency through many possible way but it goes against of his wish , It is good to to see a highly fluctuating LKR .

    Sue Thursday, 31 May 2012 11:06 AM

    Who gave you the right to make comments on behalf of others? If you want to believe what these idiots say, go ahead, but don't make us a party to it by saying "We believe you"

    ralahami Thursday, 31 May 2012 05:54 AM

    Indian rupee lost almost 25% of its value during last 12 months. Did Reserve Bank of India grumble about it? No. You can not keep the truth hidden. It has to come out one day. By giving contradicting statements, Central Bank of Sri Lanka and the Governor is adding fuel to the fire!! I feel sad about the Chief Economist of CBSL.


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