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‘It is the speed of rupee depreciation
or appreciation against the dollar that matters’


The US dollar depreciation/appreciation against the rupee is nether a barometer to determine the strength of the economy nor the strength of the currency/rupee. The most important matter is to look at how and at what speed the rupee depreciated or appreciated against the dollar, a top economist said.

"Currently, the US dollar has touched Rs 153.44 but this is not a parameter to determine the strength of the economy or the currency. When one looks at a developed economy like South Korea, as an example, they pay more "Won" for dollars, compared to the Sri Lankan rupee, which is an indication that appreciation of the dollar is not a parameter to determine the strength of the economy, Executive Director, Verite Research Dr Nishan de Mel told The Island Financial Review.


‘Commercial Bank ends 2016 as 1st private bank to cross Rs. 1 trillion in assets’


The Commercial Bank of Ceylon PLC continuing its performance has reported profit before income tax (PBT) of Rs 20.051 billion for 2016, marking the end of a year in which it made history as the first private bank in Sri Lanka to ...

Wait-and-see approach at CSE

The majority of investors in the Colombo Stock Exchange (CSE) have been discouraged by the lackluster performance of the market due to the absence of a proper government policy direction and on account of speculation that bank in...

Aitken Spence reaffirms support to CA Sri Lanka with lead sponsorship


Leading blue chip conglomerate, Aitken Spence PLC has once again reaffirmed its support to the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) with yet another lead sponsorship.

Korea Eximbank provides clean drinking water to Kurunegala North


The foundation stone for "Deduru Oya Water Supply Project" was laid ceremonially on February 20 by Minister of City Planning and Water Supply, Rauf Hakeem, ambassador of the Republic of Korea to Sri L...

Seylan Bank ‘achieves milestone’ - Profit after Tax exceeds Rs. 4 bn in 2016


In the backdrop of challenging external environment, Seylan Bank reported a resilient performance. The Bank recorded a Profit after Tax of Rs. 4,010 million for the year ended 31st December 2016, which is the highest profit repor...

Lanka Sathosa chairman resigns

Chairman  Lanka Sathosa Dr Rohantha Athukorala has resigned from his position. When The Island Financial Review contacted Dr Athukorala he said he was not happy with the way Sathosa was being administered.

‘DFCC records a stand out performance for 2016’


The financial year ended 31 December 2016 was the first full year of operations after the amalgamation of DFCC Bank with DFCC Vardhana Bank, which took place on 01 October 2015. The expectations were that the amalgamated Bank wou...

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