Sri Lanka’s rupee opened at 240/260 and is quoted at 240/260 to the US dollars in the first day of a free float, dealer said.
A float of the currency helps match inflows to outflows and the central bank no longer has to give reserves as long as no more money is printed.
The current tends to fall steeply when a float starts and then stabilizes.
“We observe the banks are cautious and that is a good sign and their guidance to clients would also be helpful at this juncture,” Central Bank Governor Nivard Cabraal said.
“Our bankers are mature and responsible breed and we have confidence and that they too act in a responsible manner that would be fair to all stakeholders, importers exporters borrowers, lenders and expatriate workers.”
Sri Lanka allowed a float of the currency after reserves fell to low levels.
Economynext
UPDATE:
HND now at 260
https://www.hnb.net/exchange-rates
A float of the currency helps match inflows to outflows and the central bank no longer has to give reserves as long as no more money is printed.
The current tends to fall steeply when a float starts and then stabilizes.
“We observe the banks are cautious and that is a good sign and their guidance to clients would also be helpful at this juncture,” Central Bank Governor Nivard Cabraal said.
“Our bankers are mature and responsible breed and we have confidence and that they too act in a responsible manner that would be fair to all stakeholders, importers exporters borrowers, lenders and expatriate workers.”
Sri Lanka allowed a float of the currency after reserves fell to low levels.
Economynext
UPDATE:
HND now at 260
https://www.hnb.net/exchange-rates
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