Rupee strengthens further against US dollar

7 March 2023 01:37 pm Views - {{hitsCtrl.values.hits}} 16 Bookmark

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The Sri Lankan rupee has further appreciated today against the US dollar. As per the Central Bank data, the buying rate of a US dollar is Rs.318.30 while the selling rate is Rs.335.75.

Comments - 16

L Jaya Tuesday, 07 March 2023 02:47 PM

Increasing the policy rate to artificially boost Rs is not healthy. There should be demand to Rs in the normal market operations These are government sweetners to make people happy.

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Senarath Tuesday, 07 March 2023 05:34 PM

Your assertion is untrue. A positive real rate is required for value appreciation. Yet, the present rate of inflation is around 50%. Raising the policy rate to 15% or 20% will have no positive impact on the LKR's attractiveness. That is due to increased tourist arrivals and encouraging news about the IMF deal.

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KP Tuesday, 07 March 2023 06:25 PM

@L Jaya. How does the policy rate affect the Rupee so quickly ? If at all it’s a long term effect which would take months after affecting industry and output which in turn would bring down imports. But before that it would affect exports. This is a result of improved supply of Dollars through tourism and remittances and speculation of IMF loan.

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Born again Tuesday, 07 March 2023 03:25 PM

$ was 9 rupees when Ranil entered Parliament.

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Lion Tuesday, 07 March 2023 03:30 PM

We don’t care a dam as long as the prices of commodities are not coming down in prices in the market. We feel this all gimmicks by Ranil led government to stay in power

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sam Tuesday, 07 March 2023 04:20 PM

Dont get carried away, this is artificial

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Mizaru Tuesday, 07 March 2023 05:09 PM

Never heard of a currency of a bankrupt country appreciating with no plans to pay back the loans , that is capital and interest. Another Jillmart for the forthcoming election.

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Buddhist Tuesday, 07 March 2023 05:14 PM

Is this a ploy to show that in SL Rs the government has reduced the debt burden while the dollar-related amount remains the same? This may also be a way the Government supports the major foreign exchange-earning companies to pay less tax.

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eresh S kmara Tuesday, 07 March 2023 05:20 PM

this could be a plan

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sam Tuesday, 07 March 2023 05:42 PM

Nothing to get excited about. Temporary situation

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LankanLover Tuesday, 07 March 2023 07:10 PM

I can literally smell the election ethics over the Rupee value appreciating all of a sudden, will see for how long!

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Adwani Wednesday, 08 March 2023 07:07 AM

The appereciation of Rupee is due to high reduction in imports, since there is no market for imported products due to high cost of living and jobs to earn.

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Henry the eight Wednesday, 08 March 2023 11:32 AM

As the Sri Lankan Rupee is not free tradeable, this is just a madeup by the government and the central Bank. And they claim to have intervened in the market and then the USD lost more then 10% against the Rupee? Are you kidding me? They just want to fool people who change their hard currency against the Rupee.

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Mohamed Adham Wednesday, 08 March 2023 12:03 PM

Temporary hogwash illusion. Wait until the US Dollar hits the sky all over again, soon.

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Quolp Thursday, 09 March 2023 12:55 AM

While economy is down-turning, artificial appreciation of RUPEES will further dip the economy and the lives of the people in more misery.

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GHT Thursday, 09 March 2023 01:07 AM

RIDICULOUS! the country has become a laughing stock.

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