Sri Lankan rupee strengthens for second day; stocks rise

Reuters: ** Sri Lanka’s rupee closed stronger for a second day on Tuesday, after foreign outflows from government securities showed a declining trend, while stocks too ended higher. 

** The rupee ended 0.1% firmer at 180.30/50 per dollar. It closed at 180.40/60 on Monday. The currency is up 1.3% this year. 

** Foreign investors sold government securities worth 500 million rupees in the week ended Sept. 4, data showed, extending the year to date net foreign outflow to 53.7 billion rupees through Sept. 4, central bank data showed. 

** The weekly outflow last week, however, was far less than the average weekly outflow of 12.85 billion rupees in the previous two weeks. 

** Meanwhile, the benchmark stock index rose 0.1% to 5,822.47. 

** Investors have been in a wait-and-watch mode since the main opposition party named a hardline former defence chief as its presidential candidate. 

** So far this year, the stock index has dropped about 3.8%. 

** Equity market turnover was 716.3 million rupees ($3.97 million) on Tuesday, more than this year’s daily average of about 649.5 million rupees so far. Last year’s daily average was 834 million. 

** Foreign investors sold a net 46.4 million rupees worth of shares on Tuesday, extending the year-to-date net foreign outflow to 1.77 billion rupees worth of equities, according to index data. 

($1 = 180.3000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; editing by Uttaresh.V)

Sri Lankan rupee recovers from 7-month closing low; stocks rise

Reuters: ** Sri Lanka’s rupee closed higher on Monday from its lowest level in more than seven months hit in the previous session after foreign fund outflows from government securities showed a declining trend, while stocks rose for the first time in four sessions. 

** The rupee ended 0.2% firmer at 180.40/60 per dollar, edging up from its lowest since Jan. 28 that was hit on Friday. It closed at 180.80/181.00 on Friday. The currency is up 1.2% this year.

** Foreign investors sold government securities worth 500 million rupees in the week ended Sept. 4, data showed, extending the year to date net foreign outflow to 53.7 billion rupees through Sept. 4, central bank data showed. 

** Foreigners sold 25.7 billion rupees worth of government securities in the previous two weeks.

** A senior central bank official said on Thursday that outflows from the government securities have been settling following the central bank’s rate cut last month.

** The central bank lowered rates for the second time in four months on Aug. 23 to boost sluggish growth after tourism and investments plummeted following deadly Easter Day bomb attacks by Islamist militants. 

** Central bank Governor Indrajit Coomaraswamy after the policy said the bank was ready to cope with the outflow of $700 million foreign funds invested in Sri Lankan government securities. Exit of some funds had resulted in some pressure on the local currency. 

** Meanwhile, the benchmark stock index closed firmer on Monday, ending a three straight session losing streak. It rose 0.31% to 5,816.52, edging up from its lowest close since July 25 hit on Friday. The bourse fell 1.6% last week.

** Investors have been in a wait-and-watch mode since the main opposition party named a hardline former defence chief as its presidential candidate. 

** So far this year, the stock index has dropped about 3.9%. 

** Equity market turnover was 381.5 million rupees ($2.11 million) on Monday, around half of this year’s daily average of about 649.1 million rupees so far. Last year’s daily average was 834 million. 

** Foreign investors sold a net 1.1 million rupees worth of shares on Monday, extending the year-to-date net foreign outflow to 1.73 billion rupees worth of equities, according to index data. 

($1 = 180.4500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Bernard Orr)

Sri Lankan rupee ends at its lowest in over 7 months; stocks fall

Reuters: ** Sri Lanka’s rupee closed at its lowest level in over seven months as foreign fund outflows from government securities rose, while stocks extended losses for the third straight session. 

** The rupee ended weaker at 180.80/181.00 per dollar, its lowest since Jan. 28. It closed at 180.75/90 on Thursday. However, the currency is up 1% this year.

** Foreign investors sold government securities worth 25.2 billion rupees in the two weeks ended on Aug. 28, data showed, extending the net foreign outflow to 53.2 billion rupees through Aug. 28, central bank data showed.

** However, a senior central bank official said on Thursday that outflows from the government securities have been settling following the central bank’s rate cut last month.

** The central bank lowered rates for the second time in four months on Aug. 23 to boost sluggish growth after tourism and investments plummeted following deadly Easter Day bomb attacks by Islamist militants. 

** Central bank Governor Indrajit Coomaraswamy after the policy said the bank was ready to cope with the outflow of total $700 million foreign funds invested in Sri Lankan government securities. Exit of some funds had resulted in some pressure on the local currency. 

** Meanwhile, the benchmark stock index fell 0.88% to 5,798.57, its lowest close since July 25. For the week, it fell 1.6%.

** Investors have been in a wait-and-watch mode since the main opposition party named a hardline former defence chief as its presidential candidate. 

** So far this year, the stock index has dropped about 4.2%. 

** Equity market turnover was 631 million rupees ($3.49 million)($2.87 million) on Friday, a little less than this year’s daily average of about 650.8 million rupees so far. Last year’s daily average was 834 million. 

** Foreign investors sold a net 80.3 million rupees worth of shares on Friday, extending the year-to-date net foreign outflow to 1.73 billion rupees worth of equities, according to index data. 

($1 = 180.8000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; editing by Uttaresh.V)

Sri Lanka rupee extends losses as fund outflow worries weigh

Reuters: ** Sri Lanka’s rupee fell further on Thursday to close at its lowest level in more than seven months, due to continued foreign fund outflows from government securities after a surprise rate cut last month. 

** Foreign investors sold government securities worth of 25.2 billion rupees in the two weeks ended on Aug. 28, data showed, extending the year-to-date net foreign outflow to 53.2 billion rupees, central bank data showed.

** Outflows from government securities have been settling, senior deputy governor of the central bank Nandalal Weerasinghe said on Thursday.

** The central bank lowered rates for the second time in four months on Aug. 23 to boost sluggish growth after tourism and investments plummeted following deadly Easter Day bomb attacks by Islamist militants. 

** The rupee ended 0.2% weaker at 180.75/90 per dollar, its lowest since Jan. 29. It closed at 180.45/75 on Wednesday. The currency is up 1% this year. 

** The rupee eased 1.5% in August as foreign investors sold government bonds in line with exit from other emerging markets. 

** Central Bank Governor Indrajit Coomaraswamy after the policy rate cut on Aug. 23 said the bank was ready to cope with the outflow of total $700 million foreign funds invested in Sri Lankan government securities. Exit of some funds had resulted in some pressure on the local currency. 

** The central bank in its monetary policy rate statement said the depreciation pressure was expected to be short-lived. 

** Meanwhile, the main benchmark stock index ended 0.19% weaker at 5,850.25. It fell 0.15% last week and 0.8% in August. 

** Sri Lankan investors have been mainly in a wait-and-see mode since the main opposition party named a hardline former defence chief as its presidential candidate. 

** The market has been awaiting details of former defence chief Gotabaya Rajapaksa’s campaign as well as the identity of the ruling party’s presidential candidate, who has yet to be announced, dealers said. 

** So far this year, the stock index has dropped about 3.3%. 

** Equity market turnover was 518.3 million rupees ($2.87 million) on Thursday, less than this year’s daily average of about 650.9 million rupees so far. Last year’s daily average was 834 million. 

** Foreign investors sold a net 13.9 million rupees worth of shares on Thursday, extending the year to date net foreign outflow to 1.65 billion rupees worth of equities, according to index data. 

($1 = 180.75 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lanka rupee weakens to over 7-month closing low as foreigners exit bonds

Reuters: ** Sri Lanka’s rupee fell to its lowest close in more than seven months on Wednesday, due to continued foreign fund outflows from government securities after a surprise rate cut last month.

** Foreign investors sold net 12.3 billion rupees worth of government securities in the week ended Aug. 28, the second-worst weekly outflow in eight months.

** They offloaded government securities worth of 25.2 billion rupees in the two weeks ended on Aug. 28, data showed, extending the year-to-date net foreign outflow to 53.2 billion rupees, central bank data showed.

** A surprise rate cut on Aug. 23 has accelerated the outflow, currency dealers say. The central bank lowered rates for the second time in four months to boost sluggish growth after tourism and investments plummeted following deadly Easter Day bomb attacks by Islamist militants.

** The rupee ended 0.2% weaker at 180.45/75 per dollar, its lowest since Jan. 29. It closed at 180.10/30 on Tuesday. The currency is up 1.2% this year.

** The rupee eased 1.5% in August as foreign investors sold government bonds in line with exit from other emerging markets.

** Central Bank Governor Indrajit Coomaraswamy after the policy rate cut on Aug. 23 said the bank was ready to cope with the outflow of total $700 million foreign funds invested in Sri Lankan government securities. Exit of some funds had resulted in some pressure on the local currency.

** The central bank in its monetary policy rate statement said the depreciation pressure was expected to be short-lived.

** Meanwhile, the main benchmark stock index ended 0.37% weaker at 5,861.54. It fell 0.15% last week and 0.8% in August.

** Sri Lankan investors have been mainly in a wait-and-see mode since the main opposition party named a hardline former defence chief as its presidential candidate.

** The market has been awaiting details of former defence chief Gotabaya Rajapaksa’s campaign as well as the identity of the ruling party’s presidential candidate, who has yet to be announced, dealers said.

** So far this year, the stock index has dropped about 2.7%.

** Equity market turnover was 720.9 million rupees ($4.01 million) on Wednesday, more than this year’s daily average of about 651.7 million rupees so far. Last year’s daily average was 834 million.

** Foreign investors sold a net 95.3 million rupees worth of shares on Wednesday, extending the year to date net foreign outflow to 1.6 billion rupees worth of equities, according to index data.

($1 = 179.8000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lanka rupee weakens amid fund outflows; stocks edge up

Reuters: **  Sri Lanka’s rupee closed weaker on Tuesday, hovering near a seven-month closing low hit last week, as continued foreign fund outflows from government securities after a surprise rate cut last month weighed on the currency. 

** Foreign investors sold net 12.3 billion rupees worth of government securities in the week ended Aug. 28, the second worst weekly outflow in eight months. They offloaded government securities worth of 25.2 billion rupees in the two weeks ended on Aug. 28, data showed, extending the year-to-date net foreign outflow to 53.2 billion rupees, central bank data showed. 

** A surprise rate cut on Aug. 23 has accelerated the outflow, currency dealers say. The central bank lowered rates for the second time in four months to boost sluggish growth after tourism and investments plummeted following deadly Easter Day bomb attacks by Islamist militants.

** The rupee ended 0.6% weaker at 180.10/30 per dollar, compared with Monday’s close of 179.75/85. The currency is up 1.4% this year.

** The rupee eased 1.5% in August as foreign investors sold government bonds in line with exit from other emerging markets.

** Central Bank Governor Indrajit Coomaraswamy after the policy rate cut on Aug. 23 said the bank was ready to cope with the outflow of total $700 million foreign funds invested in Sri Lankan government securities. Exit of some funds had resulted in some pressure on the local currency.

** The central bank in its monetary policy rate statement said the depreciation pressure was expected to be short-lived. 

** Meanwhile, the main benchmark stock index ended 0.09% firmer at 5,883.42. It fell 0.15% last week and 0.8% in August.

** Sri Lankan investors have been mainly in a wait-and-see mode since the main opposition party named a hardline former defence chief as its presidential candidate.

** The market has been awaiting details of former defence chief Gotabaya Rajapaksa’s campaign as well as the identity of the ruling party’s presidential candidate, who has yet to be announced, dealers said.

** So far this year, the stock index has dropped about 2.7%.

** Equity market turnover was 799.1 million rupees ($4.44 million) on Tuesday, more than this year’s daily average of about 651.3 million rupees so far. Last year’s daily average was 834 million.

** Foreign investors sold a net 193.4 million rupees worth of shares on Tuesday, but they have sold a net 1.5 billion rupees worth of equities so far this year, according to index data.

($1 = 179.8000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)

Sri Lanka rupee weakens amid fund outflows; stocks down

Reuters: ** Sri Lanka’s rupee closed weaker on Monday, hovering near a seven-month closing low hit last week, as foreign fund outflows after the central bank’s rate cut weighed on the currency. 

** Foreign investors sold net 12.3 billion rupees worth of government securities in the week ended Aug. 28, the second worst weekly outflow in eight months. 

** They offloaded government securities worth of 25.2 billion rupees in the two weeks ended on Aug. 28, data showed, extending the year-to-date net foreign outflow to 53.2 billion rupees, central bank data showed. 

** A surprise rate cut on Aug. 23 has accelerated the outflow, currency dealers say. The central bank lowered rates for the second time in four months to boost sluggish growth after tourism and investments plummeted following deadly Easter Day bomb attacks by Islamist militants.

** The rupee ended 0.4% weaker at 179.75/85 per dollar, compared with Friday’s close of 179.00/20. The currency is up 1.6% this year.

** The rupee eased 1.5% in August as foreign investors sold government bonds in line with exit from other emerging markets.

** Central Bank Governor Indrajit Coomaraswamy after the policy rate cut on Aug. 23 said the bank was ready to cope with the outflow of total $700 million foreign funds invested in Sri Lankan government securities. Exit of some funds had resulted in some pressure on the local currency.

** The central bank in its monetary policy rate statement said the depreciation pressure was expected to be short-lived. 

** Meanwhile, the main benchmark stock index ended 0.2% weaker at 5,878.29. It fell 0.15% last week and 0.8% in August.

** Sri Lankan investors have been mainly in a wait-and-see mode since the main opposition party named a hardline former defence chief as its presidential candidate.

** The market has been awaiting details of former defence chief Gotabaya Rajapaksa’s campaign as well as the identity of the ruling party’s presidential candidate, who has yet to be announced, dealers said.

** So far this year, the stock index has dropped about 2.7%.

** Equity market turnover was 559.1 million rupees ($3.11 million) on Monday, less than this year’s daily average of about 650.3 million rupees so far. Last year’s daily average was 834 million.

** Foreign investors sold a net 19.1 million rupees worth of shares on Monday, but they have sold a net 1.3 billion rupees worth of equities so far this year, according to index data. 

($1 = 179.8000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Subhranshu Sahu)