Sri Lanka rupee ends weaker; stocks retreat from 3-1/2-wk high

Reuters: ** The Sri Lankan rupee ended weaker on Friday due to dollar demand as importers purchased the greenback after the local currency’s recent gains, sources said; while stocks slipped from a 3-1/2-week high hit in the previous session. 

** The currency dipped 0.1 percent to end at 174.90/175.00 to the dollar, compared with Thursday’s close of 174.70/85. 

** Though the island nation’s currency gained only 0.26 percent on the week, it rose 2.1 percent in the six sessions ended Tuesday. 

** The currency gained 4.4 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 bought a net 1.6 billion rupees worth of government securities in the week ended March 27, the fourth net inflow in six weeks, extending year-to-date net foreign buying to 3.3 billion rupees, the latest central bank data showed. 

** The Colombo Stock Exchange index snapped a six-session winning streak to end 0.57 percent weaker at 5,621.36 on Friday. The index slipped from its highest close since March 11, hit in the previous session. 

** The benchmark stock index rose 1.15 percent during the week, recording its second consecutive weekly gain in nine. The index has declined 7.12 percent so far this year. 

** The market awaits some positive news from the third and final vote on the 2019 budget that is underway, market sources said. 

** Meanwhile, Sri Lanka’s central bank is expected to leave its key interest rates steady on Monday, a Reuters poll showed, but analysts aren’t ruling out an easing as the rupee steadies and policymakers aim to boost economic growth ahead of elections. 

** Turnover came in at 219.98 million rupees ($1.26 million), less than this year’s daily average of 632.3 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors sold a net 7.3 million rupees worth of shares on Friday, extending the year-to-date net foreign outflow to 5.8 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 = 174.7500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal, Editing by Sherry Jacob-Phillips)

Sri Lanka rupee ends weaker; stocks gain for sixth session

Reuters: ** The Sri Lankan rupee ended 0.5 percent weaker on Thursday due to importer dollar demand, but greenback inflows from inward remittances ahead of the traditional new year capped further decline, while stocks jumped 1 percent, sources said. 

** The currency stood at 174.70/85 to the dollar, compared with Wednesday’s close of 174.60/80. 

** The island nation’s currency gained 2.1 percent in the six sessions through Tuesday, and 4.5 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. 

** There was a steady flow of 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 bought a net 1.6 billion rupees worth of government securities in the week ended March 27, the fourth net inflow in six weeks, extending year-to-date net foreign buying to 3.3 billion rupees, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 1.0 percent higher at 5,653.43 on Thursday rising for the sixth straight session, its highest close since March 11. 

** The benchmark stock index rose 0.31 percent last week, recording its first weekly gain in eight weeks. The index has declined 6.6 percent so far this year. 

** The market awaits some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** Turnover came in at 563.6 million rupees ($3.23 million), less than this year’s daily average of 638.98 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors sold a net 257.5 million rupees worth of shares on Thursday, extending the year to date net foreign outflow to 5.8 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 = 174.6500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal, Editing by Sherry Jacob-Phillips)

Sri Lanka rupee snaps winning edge; stocks hit 2-week high

Reuters: ** The Sri Lankan rupee snapped a six-session winning streak to end lower on Wednesday due to importer dollar demand, but greenback inflows from inward remittances ahead of the traditional new year capped further decline, sources said. 

** The currency edged down at 174.60/80 to the dollar, compared with Tuesday’s close of 174.45/60. 

** The island nation’s currency gained 2.1 percent in the last six sessions through Tuesday, 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. 

** There was a steady flow of 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 bought a net 1.6 billion rupees worth of government securities in the week ended March 27, the fourth net inflow in six weeks, extending year-to-date net foreign buying to 3.3 billion rupees, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.34 percent higher at 5,597.37 on Wednesday, its highest close since March 18. 

** The benchmark stock index rose 0.31 percent last week, recording its first weekly gain in eight weeks. The index has declined 7.5 percent so far this year. 

** The market awaits some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** Turnover came in at 405.2 million rupees ($2.32 million), less than this year’s daily average of 640.2 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 205.7 million rupees worth of shares on Wednesday, but they have been net sellers of 5.5 billion rupees worth of equities so far this year. 

** 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 = 174.6000 Sri Lankan rupees) 

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

Sri Lanka rupee extends gains; stocks hit 2-week closing high

Reuters: ** The Sri Lankan rupee closed firmer on Tuesday as more foreign investors purchased government securities, while inward remittances remained high ahead of the traditional new year celebrations, market sources said. 

** The currency extended gains into a sixth session to end firmer at 174.45/60 to the dollar, compared with Monday’s close of 174.70/85. 

** The island nation’s currency gained 2.09 percent in the last six sessions 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. 

** The country will celebrate traditional 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 bought a net 1.6 billion rupees worth of government securities in the week ended March 27, the fourth net inflow in six weeks, extending year-to-date net foreign buying to 3.3 billion rupees, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.19 percent higher at 5,578.43 on Tuesday, its highest close since March 19. 

** The benchmark stock index rose 0.31 percent last week, recording its first weekly gain in eight weeks. The index has declined 7.8 percent so far this year. 

** The market awaits some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** Turnover was 433.7 million rupees ($2.49 million), less than this year’s daily average of 644.1 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 16.8 million rupees worth of shares on Tuesday, but they have been net sellers of 5.7 billion rupees worth of equities so far this year. 

** 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 = 174.4000 Sri Lankan rupees) 

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

Sri Lanka rupee ends firmer on inward remittances; stocks up

Reuters: ** The Sri Lankan rupee closed firmer for a fifth straight session on Monday, helped by dollar inflows from inward remittances ahead of the traditional new year celebrations, market sources said, while stocks ended higher. 

** The currency rose 0.4 percent to end at 174.70/85 to the dollar, up from Friday’s close of 175.35/50. 

** The island nation’s currency gained 1.95 percent in the last five straight sessions and 4.5 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 pressure on the currency to ease with more inward remittances ahead of the traditional 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 bought a net 1.6 billion rupees worth of government securities in the week ended March 27, the fourth net inflow in six weeks, extending year-to-date net foreign buying to 3.3 billion rupees, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.19 percent higher at 5,567.77 on Monday, moving further away from their lowest since Dec. 18, 2012, hit on Wednesday. 

** The benchmark stock index rose 0.31 percent last week, recording its first weekly gain in eight weeks. The index has declined 8.2 percent so far this year. 

** The market awaits some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** Turnover was 458.6 million rupees ($2.63 million), less than this year’s daily average of 647.7 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 358.7 million rupees worth of shares on Monday, but they have been net sellers of 5.7 billion rupees worth of equities so far this year. 

** 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 Ranga Sirilal and Shihar Aneez)

Sri Lanka rupee gains 1.5 pct on week; stocks steady

Reuters: ** The Sri Lankan rupee closed 0.4 percent stronger on Friday as dollar inflows from inward remittances ahead of the traditional new year celebrations helped bolster the local currency, market sources said, while stocks ended firmer. 

** The currency extended gains into a fourth session to end firmer at 175.35/50 to the dollar, up from Thursday’s close of 176.10/25. 

** The island nation’s currency gained 1.5 percent for the week. 

** The rupee has climbed 4.1 percent 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 pressure on the currency to ease with more inward remittances ahead of the traditional 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 bought a net 3.5 billion rupees worth of government securities in the week ended March 19, the third net inflow in five weeks, turning year-to-date net foreign buying to 1.8 billion rupees, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.02 percent higher at 5,557.24 on Friday, moving further away from their lowest since Dec. 18, 2012, hit earlier this week. 

** The benchmark stock index rose 0.31 percent for the week, recording its first weekly gain in eight weeks. The index has declined 8.2 percent so far this year. 

** The market awaits some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** Turnover was 326.6 million rupees ($1.86 million), less than this year’s daily average of 650.9 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors bought a net 101.3 million rupees worth of shares on Friday, but they have been net sellers of 6.1 billion rupees worth of equities so far this year. 

** 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 = 175.3500 Sri Lankan rupees) 

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

Sri Lanka rupee extends gains; stocks rebound from 6-year low

Reuters: ** The Sri Lankan rupee closed stronger on Thursday due to dollar inflows from inward remittances ahead of the traditional new year celebrations, market sources said, while stocks snapped an eight-session losing streak to end higher. 

** The currency extended gains into a third session to end firmer at 176.10/25 to the dollar, up from Wednesday’s close of 176.20/40. 

** The rupee has climbed 1.1 percent so far this week and 3.7 percent 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 pressure on the currency to ease with more inward remittances ahead of the traditional 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 island nation is struggling to repay its foreign loans, with a record $5.9 billion due this year, including $2.6 billion in the first three months. 

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

** Foreign investors bought a net 3.5 billion rupees worth of government securities in the week ended March 19, the third net inflow in five weeks, turning year-to-date net foreign buying to 1.8 billion rupees, the latest central bank data showed. 

** The Colombo Stock Exchange index ended 0.81 percent firmer at 5,556.28 on Thursday, edging up from their lowest since Dec. 18, 2012, hit in the previous session. 

** The benchmark stock index slipped 1.36 percent last week, recording its seventh consecutive weekly drop. The index has declined 8.2 percent so far this year. 

** The market awaits for some positive news from the third and final vote on the 2019 budget scheduled for April 5, market sources said. 

** Turnover was 457.8 million rupees ($2.60 million), less than this year’s daily average of 656.6 million rupees. Last year’s daily average came in at 834 million rupees. 

** Foreign investors sold a net 46.8 million rupees worth of shares on Thursday, extending the year-to-date foreign outflows to 6.21 billion rupees worth of equities so far this year. 

** 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 = 176.1000 Sri Lankan rupees) 

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