Empower your business in Sri Lanka and internationally with Prifinance expert corporate and financial services. Streamline company formation and investment opportunities with our tailored advice and solutions.

Sri Lanka rupee slips to 110.65 against greenback

Dec 10, 2008 (LBO) - The Sri Lanka rupee slipped to 110.

65/75 against the greenback on Wednesday from 110.30 two days earlier, but the central bank is continuing to intervene at the new rate, dealers said.
buy lexapro online buy lexapro online no prescription
The Sri Lanka rupee had come under severe pressure from central bank liquidity injections to maintain reserve money, following interventions to preserve a dollar peg, in a process known as 'sterilized intervention.'

A central bank cannot maintain a peg with an anchor currency and target the domestic monetary base or interest rates by printing money simultaneously without causing a currency crisis unless exchange controls are imposed and foreign trade is also restricted.

The phenomenon is generally recognized in economics as the 'impossible trinity' of monetary policy.

online pharmacy buy spiriva inhaler with best prices today in the USA


buy nolvadex online https://bccrf.org/minuet/wp-content/uploads/2020/08/png/nolvadex.html no prescription pharmacy

Dealers said the central bank was now intervening at the new rate of 110.

buy clomiphene online https://bccrf.org/minuet/wp-content/uploads/2020/08/png/clomiphene.html no prescription pharmacy

65 rupees to the dollar.

Dollars are only being offered for genuine trade transactions with authorities inquiring about letters of credit numbers, dealers said.

Since the beginning of the intervention the central bank had pumped in more than 110 billion fresh rupees to the market and cut the statutory reserve ratio twice adding more than 24 billion rupees (1250 US dollars).


In early September before the intervention-and-liquidity injection cycle began, Sri Lanka had 3.5 billion dollars in foreign exchange reserves.

online pharmacy buy diflucan with best prices today in the USA




buy fluoxetine online https://bccrf.org/minuet/wp-content/uploads/2020/08/png/fluoxetine.html no prescription pharmacy

To break the cycle, the currency has to be 'floated'.

The International Monetary Fund has also urged Sri Lanka to abandon what it called its 'de facto' dollar peg.

online pharmacy buy abilify with best prices today in the USA

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Top
0
Would love your thoughts, please comment.x
()
x