In July the rupee again fell to 320 to the US dollar after appreciating to 310 to the US dollar under the flexible exchange rate. Dollar sales have resumed, market participants said. RELATEDSri Lanka bonds close down, rupee 322.00/324.00 to dollar Operating simultaneous exchange...
Due to a broken soft-peg with the US dollar, Sri Lanka has difficulties transferring real wealth from the rupee credit system to the US Fed linked dollar banking system and fuel imports in particular have been badly hit. The PUCSL is expected to hike electricity tariffs following a stee...
The Central Bank did a 360 degree turn on its plan to save US dollars in the market, suspending decisions which forced banks and exporters to sell a portion of the US currency to the authorities. The hurried measures came amidst anxiety that the dollar would go way beyond the 200-rupee le...
Contemporarily, Smyth and Nandha (2003) studied the relationship for Pakistan, India, Bangladesh, and Sri Lanka over the period 1995–2001 and proved no long-run relationship between variables. Unidirectional causality was seen running from exchange rates to stock prices for only India and Sri ...