On the contrary LKR is appreciating against USD for the last couple of weeks..
If I were you I would have converted these to LKR because my primary currency is LKR..( I do my day today business in LKR)
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USD or LKR?
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If I were you I would have converted these to LKR because my primary currency is LKR..( I do my day today business in LKR)
How about a situation where I have money for day to day businesses and have USD in excess. My operating currency is USD though.
you mean you want invest in USD.. Thats a good long term invest..
USD is more stable currency than LKR. So that's good..
well, the first thing is dont do anything till the UNHRC is over..If the outcome is positive I'd still opt with my first option which is to convert..It's highly unlikely that the exchange rate will go over 135 rupees..It'll trigger another balance of payment crisis and I dont think CBSL would let that happen once again..Its a good sign that they increase the price of petrol and diesel..(And I'd like to see a hike in electricity as well). I saw some article in LBO today and CBSL is planning to relax exchange controls..
http://www.lbo.lk/fullstory.php?nid=965747130
So finally my conclusion is to convert..(Don't blame me if things go the other way, I'm not Harsha De Silva nor have a Phd in Economics)
Sri lanka doesnt have a floating rupee anymore. These days CBSL having enough USD reserves and they are managed to stabilize the rupee value against dollar while USD is appreciating against euro and other major trading currencies.
Present rupee fixed deposits are paid very much higher int rate (almost four times higher) when comparing to same term dollar FD's. (if u are having RFC savings a/c that will be paid much lower rate 2-2.5% while u are paid 3-4% on one year USD FD )
If u are not intend to do a large USD payment on future it is much profitable to convert and put on a long term rupee Fixed deposit as CBSL tries their best to keep interest rates low.
Present rupee fixed deposits are paid very much higher int rate (almost four times higher) when comparing to same term dollar FD's. (if u are having RFC savings a/c that will be paid much lower rate 2-2.5% while u are paid 3-4% on one year USD FD )
If u are not intend to do a large USD payment on future it is much profitable to convert and put on a long term rupee Fixed deposit as CBSL tries their best to keep interest rates low.
how about sri lanka taking loans in large scale and not utilizing it in the right way ? what can be the effect of it ?
Better to change into LKR and make FD. Because U have less interest on NRFC. But these days exchange rates are little bit lower
That would cause a debt crisis what PIIGS countries (protugeese, ireland,itally,greek, spain) experiencing today..
http://en.wikipedia.org/wiki/European_sovereign-debt_crisis
