Sri Lanka rupee rises; stocks edge higher ahead of long weekend

Reuters: ** The Sri Lankan rupee closed 0.34 percent firmer on Thursday helped by banks’ dollar sales, while stocks ended marginally higher for the fourth straight session in thin trade ahead of a long weekend. 

** Many investors were on a holiday during the three-day week due to two long weekends. Both Monday and Friday in this week are public holidays. 

** The currency ended at 173.95/174.25 to the dollar, higher than Wednesday’s close of 174.55/65, Refinitiv Eikon data showed. 

** The island nation’s currency gained 0.3 percent this week, and 5.2 percent so far this year, as exporters converted dollars amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Sri Lanka plunged into a political turmoil in October last year when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 2 billion rupees worth of government securities in the week ended April 10, the second weekly fall in six weeks, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.05 percent firmer at 5,606.35. 

** The benchmark stock index gained 0.4 percent in the week. However, it has declined 7.4 percent so far this year. 

** Turnover came in at 200.3 million rupees ($1.15 million), nearly a third of this year’s daily average of 593.5 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 2.8 million rupees worth of shares on Thursday, but the market has seen a year-to-date net foreign outflow to 6 billion rupees worth of equities. 

($1 = 173.9500 Sri Lankan rupees) 

(Reporting by Shihar Aneez; Editing by Rashmi Aich)

Sri Lanka rupee edges higher; stocks rise for third session

Reuters: ** The Sri Lankan rupee closed a tad firmer on Wednesday helped by banks’ dollar sales, while stocks ended marginally higher for the third straight day in thin trade. 

** Many investors were on holiday in a three-day week due to two long weekends. Both Monday and Friday in this week are public holidays. 

** The currency ended at 174.55/65 to the dollar, higher than Tuesday’s close of 174.60/75. The markets were closed on Monday for a public holiday in lieu of traditional new year that fell on Sunday. 

** Traders expect lower trade in both currency and stock markets in the three-day week. 

** The island nation’s currency gained 0.26 percent last week, and 4.8 percent so far this year, as exporters converted dollars amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Sri Lanka was plunged into political turmoil in October last year when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 2 billion rupees worth of government securities in t=(he week ended April 10, the second weekly fall in six weeks, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.2 percent firmer at 5,603.35. 

** The benchmark stock index fell 0.6 percent last week, recording its first weekly fall in three. The index has declined 7.4 percent so far this year. 

** Turnover came in at 188.8 million rupees ($1.08 million), less than a third of this year’s daily average of 599.1 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 46.4 million rupees worth of shares on Wednesday, but the market has seen a year-to-date net foreign outflow to 6 billion rupees worth of equities. 

($1 = 174.5000 Sri Lankan rupees) 

(Reporting by Shihar Aneez; Editing by Rashmi Aich)

Sri Lanka rupee edges down; stocks end tad firmer

Reuters: ** The Sri Lankan rupee closed tad weaker on Tuesday, while stocks ended tad firmer in thin trade after a long weekend. 

** The currency ended at 174.60/75 to the dollar, lower than Friday’s close of 174.45/55. The markets were closed on Monday for a public holiday in lieu of traditional new year that fell on Sunday. 

** Traders expect lower trade in both currency and stock markets in the three-day week as Friday is also being declared as a public holiday. 

** The island nation’s currency gained 0.26 percent last week, and 4.7 percent so far this year, as exporters converted dollars amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Sri Lanka was plunged into political turmoil in October last year when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 2 billion rupees worth of government securities in the week ended April 10, the second weekly fall in six weeks, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.1 percent firmer at 5,591.83. 

** The benchmark stock index fell 0.6 percent last week, recording its first weekly fall in three. The index has declined 7.6 percent so far this year. 

** Turnover came in at 173 million rupees ($990,836.20), less than this year’s daily average of 605 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 31.4 million rupees worth of shares on Tuesday, but the market has seen a year-to-date net foreign outflow to 6.04 billion rupees worth of equities. 

($1 = 174.6000 Sri Lankan rupees) 

(Reporting by Shihar Aneez; Editing by Rashmi Aich)

Sri Lanka rupee ends steady; stocks edge up ahead of long holidays

Reuters: ** The Sri Lankan rupee closed steady on Friday while stocks ended tad firmer in thin trade ahead of a long weekend due to traditional new year. 

** The currency ended at 174.45/55 to the dollar. 

** Sri Lanka’s currency, stock, and bond markets will be closed for a holiday on Monday for a public holiday in lieu of traditional new year falling on a Sunday. 

** The island nation’s currency gained 0.26 percent this week, and 4.8 percent so far this year, as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Sri Lanka was plunged into political turmoil in October when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 2 billion rupees worth of government securities in the week ended April 10, the second weekly fall in six weeks, the latest central bank data showed. ** The Colombo Stock Exchange index ended 0.1 percent firmer at 5,585.30. 

** The benchmark stock index fell 0.6 percent this week, recording its first weekly fall in three . The index has declined 7.7 percent so far this year. 

** Turnover came in at 184.2 million rupees ($1.06 million)($2.64 million), less than this year’s daily average of 611 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 1.1 million rupees worth of shares on Thursday, but the market has seen a year-to-date net foreign outflow to 6.1 billion rupees worth of equities. 

** The latest budget aims to increase government spending by 13 percent in 2019, during which the presidential election must be held, while it has set an ambitious goal to reduce a large fiscal deficit. 

($1 = 174.5000 Sri Lankan rupees) 

(Reporting by Shihar Aneez; Editing by Alison Williams)

Sri Lanka rupee ends firmer; stocks dip on foreign outflows

Reuters: ** The Sri Lankan rupee closed slightly firmer on Thursday, supported by dollar inflows from remittances ahead of the traditional new year, while stocks ended lower due to foreign outflows in moderate trade. 

** Markets shrugged off the central bank’s decision on Monday to leave its key interest rates unchanged, a widely expected move to boost an economy struggling in the wake of a political crisis. 

** The currency ended at 174.45/55 to the dollar, compared with Wednesday’s close of 174.60/70. 

** Dollar buying by state banks prevented sharp gains in the currency, market sources said. 

** The island nation’s currency gained 0.26 percent last week, and 4.8 percent so far this year, as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Dealers expect the pressure on the rupee to ease with more inward remittances ahead of the Sinhala-Hindu New Year on April 14. 

** Sri Lanka was plunged into political turmoil in October when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 1.9 billion rupees worth of government securities in the week ended April 3, the first weekly fall in five weeks, but foreign investors were net buyers of 1.6 billion rupees so far this year, the latest central bank data showed. 

** The Colombo Stock Exchange index ended marginally weaker at 5,576.11. 

** The benchmark stock index rose 1.2 percent last week, recording its second consecutive weekly gain in nine. The index has declined 7.8 percent so far this year. 

** Turnover came in at 459.76 million rupees ($2.64 million), around less than this year’s daily average of 618 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors sold a net 164.9 million rupees worth of shares on Thursday, extending the year-to-date net foreign outflow to 6.1 billion rupees worth of equities. 

** The latest budget aims to increase government spending by 13 percent in 2019, during which the presidential election must be held, while it has set an ambitious goal to reduce a large fiscal deficit.

($1 = 174.4500 Sri Lankan rupees) 

(Reporting by Shihar Aneez, Editing by Sherry Jacob-Phillips)

Sri Lanka rupee firms on remittances; stocks end steady

Reuters: ** The Sri Lankan rupee ended stronger on Wednesday as dollar inflows from remittances ahead of the traditional new year provided support, while stocks closed steady in dull trade. 

** Markets shrugged off the central bank’s decision on Monday of leaving its key interest rates unchanged, a widely expected move to boost an economy struggling in the wake of a political crisis. 

** The currency ended at 174.60/70 to the dollar, compared with Tuesday’s close of 174.75/85. 

** The island nation’s currency gained 0.26 percent last week, and 4.6 percent so far this year, as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Dealers, however, expect the pressure on the rupee to ease with more inward remittances ahead of the Sinhala-Hindu New Year on April 14. 

** Sri Lanka was plunged into political turmoil in October when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as premier. 

** Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors sold a net 1.9 billion rupees worth of government securities in the week ended April 3, the first weekly fall in five weeks, but foreign investors were net buyers of 1.6 billion rupees so far this year, the latest central bank data showed. 

** The Colombo Stock Exchange index closed steady at 5,583.58. 

** The benchmark stock index rose 1.2 percent last week, recording its second consecutive weekly gain in nine. The index has declined 7.7 percent so far this year. 

** Turnover came in at 218.6 million rupees ($1.25 million), around a third of this year’s daily average of 620 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 10 million rupees worth of shares on Wednesday, buy they have sold year-to-date net foreign outflow of 5.9 billion rupees worth of equities. 

** The latest budget aims to increase government spending by 13 percent in 2019, during which the presidential election must be held, while it has set an ambitious goal to reduce a large fiscal deficit.

($1 = 174.5500 Sri Lankan rupees) 

(Reporting by Shihar Aneez, Editing by Sherry Jacob-Phillips)

Rupee ends weaker on importer dollar demand; stocks down

Reuters: The Sri Lankan rupee ended weaker on Tuesday due to importer dollar demand, but market sources said remittances ahead of the traditional New Year will help boost the currency, while stocks extended losses into a third session.

After the markets closed on Monday, Sri Lanka’s Central Bank left its key interest rates unchanged, a widely expected move to boost an economy struggling in the wake of a political crisis. Markets shrugged off the Central Bank’s decision, sources said.

The Colombo Stock Exchange index fell for a third straight session on Tuesday to end 0.21% weaker at 5,583.66. The benchmark stock index rose 1.2% last week, recording its second consecutive weekly gain in nine.

The index has declined 7.7% so far this year. The currency ended at 174.75/85 to the dollar, compared with Monday’s close of 174.60/70.

The island nation’s currency gained 0.26% last week, and 4.5% so far this year, as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January.

Dealers expect the pressure on the rupee to ease with more inward remittances ahead of the Sinhala-Hindu New Year on April 14. Sri Lanka was plunged into political turmoil in October when President Maithripala Sirisena abruptly removed Prime Minister Ranil Wickremesinghe and then dissolved Parliament. A court later ruled the move was unconstitutional, and Wickremesinghe was reinstalled as Premier.

Investor sentiment took a big hit as a result of the 51-day political crisis, leading to credit rating downgrades and an outflow of foreign funds from government securities.

The rupee dropped 16% in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. Foreign investors sold a net Rs. 1.9 billion worth of government securities in the week ended 3 April, the first weekly fall in five weeks, but foreign investors were net buyers of Rs. 1.6 billion so far this year, the latest Central Bank data showed.

Turnover came in at Rs. 187.6 million ($1.07 million), less than a third of this year’s daily average of Rs. 626.4 million. Last year’s daily average came in at Rs. 834 million.

Foreign investors sold a net Rs. 93.5 million worth of shares on Tuesday, extending the year-to-date net foreign outflow to Rs. 5.9 billion worth of equities.

The latest Budget aims to increase government spending by 13% in 2019, during which the Presidential Election must be held, while it has set an ambitious goal to reduce a large fiscal deficit.