Category: Forex
Asian stocks open lower with stronger Fed rate hike possibility
Nov 10, 2015 (LBO) – Asian stocks opened lower after global stocks fell on Monday on increased chances of a Fed rate hike this year. Probability that the Fed will hike interest rates this year have increased to 68 percent, from 50 percent a week ago and 39 percent last month, according to market data. […]
Some dollars flowing back into emerging market bonds
Nov 03, 2015 (LBO) – Despite a slowdown in China which led to selling of emerging market bonds over the last two years, some investors are getting back in, a media report said. Investors such as Eaton Vance and HSBC Asset Management have added to their exposure to emerging markets. Bonds in local currency from […]
Sri Lanka’s rupee is way over sold, says technical analyst
Oct 28, 2015 (LBO) -Sri Lanka’s rupee which was floated in September is way over sold and won’t depreciate further, an analyst said. “The LKR has depreciated quite a bit in last 18 months. The effects may already be visible in your exports.But is it going to depreciate further?I don’t think so,” Akshay Chinchalkar, head […]
Central Bank holds key interest rates unchanged
Oct 20, 2015 (LBO) – Sri Lanka’s Central Bank held key interest rates unchanged on Tuesday after a monthly monetary policy announcement citing low inflation, a decision broadly expected by market participants. A poll by Lanka Business Online of 13 market participants showed 12 expected no change in policy interest rates, while one expected a […]
Rupee strengthens to 140.45/65 on expected dollar inflows
Oct 07, 2015 (LBO) – Sri Lanka’s rupee has strengthened on Wednesday with dollar selling by a commercial bank on likely exporter proceeds and expected inflow of dollars, a dealer said. The rupee was quoted against the dollar at 140.45/65 down from 141.00/05. The central bank allowed greater flexibility of the exchange rate from 4th […]
PTL Watch: Moderate activity, local buying matches foreign selling in bonds
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PTL Watch: Little activity, selling in 6-yr and 13-yr bonds
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Analysis: Sri Lanka foreign reserve dilemma hinges on Central Bank objectives
Oct 05, 2015 (LBO) – Acting quicker than it did in early 2012, the decision by Sri Lanka’s Central Bank to give up defending the rupee in September of this year bodes well for a quicker recovery of foreign exchange reserves. But enamored with an additional objective of economic development, that goes beyond financial and […]
Sri Lanka rupee shows mixed performance versus intl currencies
Sept 30, 2015 (LBO) – Sri Lanka’s rupee has had a mixed performance against international currencies so far this year, the central bank said. “The Sri Lankan rupee appreciated against the Australian dollar by 9.5 percent and the euro by 0.3 percent while depreciating against the Japanese yen by 6.9 percent, the pound sterling by […]
Free flow of information vital for financial markets: CB Governor
Sept 28, 2015 (LBO) – A free flow of information is vital for financial markets to grow, Sri Lanka’s Central Bank Governor Arjuna Mahendran told media on Monday. He was responding to a question posed by Lanka Business Online about concerns of market participants that they should censor information when dealing with the media. Some […]
Foreign holding in govt securities falls by USD68 mn in last week
Sept 25, 2015 (LBO) – The holding of Sri Lanka government securities by foreign investors fell to 333.2 billion rupees in the week to September 23, from 342.8 billion rupees in the previous week, information from the central bank showed. This reflects an outflow of 9.6 billion rupees (68 million dollars) for the week, and […]
Debt report: Sri Lanka market watchful after IMF comments
Sept 21, 2015 (LBO) – Sri Lanka’s debt market was watchful on Monday after International Monetary Fund remarks that the central bank could adopt a tightening bias. The bond market cramped up with thin trading, dealers said, as secondary yields of five year bonds ticked up slightly by 5 basis points. On Friday, the IMF […]