USD or LKR?

[ndnk]

Machanz podi professional advice ekak ona. Mokakda me deken hodama option eka?

1. Keeping USD in a RFC
2. Convert USD to LKR and put in a FD.

 

[v7soft1]

mama hitahhne RFC ake tiyana aka hodai

 

[GTRZ]

If you are not buying lot of things in USD or importing stuff then LKR in FD is the best option.

RFC has very low interest rates

 

[ndnk]

mama hitahhne RFC ake tiyana aka hodai

MOkakda reason eka machan?

 

[ndnk]

If you are not buying lot of things in USD or importing stuff then LKR in FD is the best option.

RFC has very low interest rates

Yes they pay a very low interest. I think they pay interest aligning with US interest rates.

Yes I am not buying or importing anything. I convert $ to LKR when I want to pay my workers.

Only concern I have is sacrificing the benefit in case of a depreciation of LKR against USD

 

[sunlog]

RFC low interest machan... LKR walin dapan.

 

[Colombo_Dude]

if u deposit in rupees u will get high interest rates but the value of rupee will go down against u.s dollar because of the current economic situation

if u deposit in usd you will get low interest rate but your currency value wont get depreciated like the rupee because u.s got a better economy than us.

 

[Screw SL]

Machanz podi professional advice ekak ona. Mokakda me deken hodama option eka?

1. Keeping USD in a RFC
2. Convert USD to LKR and put in a FD.

If you're living in SL and your account is in USD, you won't get good sleep.. every night you wonder what will happen to "Forex Rate"

because your day today life runs on LKR. you can't buy loaf of bread or kilo of sugar in grocery store with USD in practical, but if you're planing a trip or education thing in offshore, your better option is USD, cause in case you want to remit you only cost boarder charges.

 

[ndnk]

if u deposit in rupees u will get high interest rates but the value of rupee will go down against u.s dollar because of the current economic situation

if u deposit in usd you will get low interest rate but your currency value wont get depreciated like the rupee because u.s got a better economy than us.

thanks for the idea machan. I also know that LKR will depreciate against USD. That is why I have been keeping it

 

[Colombo_Dude]

thanks for the idea machan. I also know that LKR will depreciate against USD. That is why I have been keeping it

you're welcome machan

 

[ndnk]

If you're living in SL and your account is in USD, you won't get good sleep.. every night you wonder what will happen to "Forex Rate"

Thanks for the idea. But I sleep well machan. Coz in SL we don't see much larger changes in forex in short time

 

[v7soft1]

if u deposit in rupees u will get high interest rates but the value of rupee will go down against u.s dollar because of the current economic situation

if u deposit in usd you will get low interest rate but your currency value wont get depreciated like the rupee because u.s got a better economy than us.

meka thamai mama kiwwe

 

[Colombo_Dude]

Thanks for the idea. But I sleep well machan. Coz in SL we don't see much larger changes in forex in short time

yes it will go up and go down a bit! but at the end u.s currency will be stronger than rupee. sri lanka got a long way to go machan.

 

[conzy]

u should decide that based on the market situation. keeping usd can be profitable than fd, but more risky. fd is the safer option and u'll know what u get. it's hard to predict things here in sl. but i kept my rfc $$ over a year and had quite good profit and still holding some amount.

 

[ndnk]

yes it will go up and go down a bit! but at the end u.s currency will be stronger than rupee. sri lanka got a long way to go machan.

Exactly.. Thanks for sharing your ideas machan.. highly appreciated.

 

[ndnk]

u should decide that based on the market situation. keeping usd can be profitable than fd, but more risky. fd is the safer option and u'll know what u get. it's hard to predict things here in sl. but i kept my rfc $$ over a year and had quite good profit and still holding some amount.

I think better to keep in USD considering the SL economic situation

 

[Colombo_Dude]

Exactly.. Thanks for sharing your ideas machan.. highly appreciated.

 

[Screw SL]

Thanks for the idea. But I sleep well machan. Coz in SL we don't see much larger changes in forex in short time

I said that because your day today life runs on LKR. you can't buy loaf of bread or kilo of sugar in grocery store with USD in practical, but if you're planing a trip or education thing in offshore, your better option is USD, cause in case you want to remit you only cost boarder charges.

 

[kosandpol]

Keep it in a dollar FD. Rates are low but value of the dollar is high so its profitable on the long run.

 

[ndnk]

Keep it in a dollar FD. Rates are low but value of the dollar is high so its profitable on the long run.

Thanks machan....... it is a good idea to keep in USD