Inflation ( CCPI)50.6% (Feb 2023)
GDP-12.4% (4Q 2022)
Unemployment5.0% (3Q 2022)
3M T-Bill Rate25.99%
12M T-Bill Rate24.31%
5Y T-Bond Rate27.00%/ 27.25%
10Y T-Bond Rate22.00% / 23.00%
USD/LKR335/341
Click on the chart for more details
Reserves $2.22Bn (Feb 2023)
Cum. Trade Deficit $449Mn (Feb 2023)
Cum. Fiscal DeficitLKR 1,601Bn (Nov 2022)

Sri Lanka Rupee advance further while breaking previous CBSL lower bound

Exchange RateMar 3, 2023
Sri Lanka Rupee advance further while breaking previous CBSL lower bound
This story is available exclusively to charts.lk subscribers. Become an member and start reading now.

Sri Lanka Rupee appreciated further despite the majority of the market participants expecting it to be held above 350 per 1 USD a few days ago. Now it has appreciated beyond the closing price of yesterday which was 346. Positive sentiment is now driving the value up for LKR.

A sharp rise in the value of LKR would encourage more imports and discourage exports. Higher volatility of the price of any commodity will disturb the well functioning of the capital markets.

People who expected a further depreciation or flat USD/LKR at the previous level of 363 would rush to sell down their FX holdings as the value of USD fell beyond their cut loss limits.

Disclaimer

Charts represents an assessment of the market environment as of the date indicated and it is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision. This document contains general information only and does not take into account an individual’s financial circumstances. An assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a financial advisor before making an investment decisions.

Copyright © 2023 Charts.lk. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy.