United States Virginia change
Sri Lanka Breaking News
Sri Lanka parliament
vivalankaSri Lanka newsSri Lanka businessSri Lanka sportsSri Lanka technologySri Lanka travelSri Lanka videosSri Lanka eventssinhala newstamil newsSri Lanka business directory
vivalanka advertising
Menu
Stay Connected
facebooktwittermobile
Popular Searches
T20 World Cup
Sponsored Links
Sri Lanka Explorer

Currency To Further Weaken

Sep 24, 2011 3:28:51 PM - thesundayleader.lk

Central Bank of Sri Lanka last week depreciated the exchange rate (ER) by 20 Sri Lanka cents (SLc) to Rs. 110.30 for a unit sale of a US dollar ($) in inter-bank spot trading due to demand for $s emanating in the market.
On Wednesday they depreciated it by 10 SLc to Rs. 110/20 and followed it by depreciating it by a further 10 SLc to Rs. 110/30 the following day Thursday.
“Exporters are not making any forward booking, an indication that they are expecting the ER to dip further,” a market source told this reporter.
Previously they (exporters) used to book forward thinking that the ER will appreciate, but now they are taking a contrary stand, he said.