USD is rising against LKR so it is in an uptrend. In uptrends, the rises (impulsive moves) are larger than falls (corrective moves). So overall USD/LKR is rising.
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all investors, exporters are panicking
when will stable market in to minimum gap
when will stable market in to minimum gap
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මෙන්න ඇත්තටම සිද්ධවුන දේ !
Sri Lanka central bank sells dollars for second month after volatility
ECONOMYEXT – Sri Lanka’s central bank has sold dollars on a net basis for the second straight month amid exchange rate volatility from the an ad hoc, highly unstable, confidence-busting pegging arrangement called a ‘flexible exchange rate’.
In July the central bank sold 41.5 million US dollars to banks after buying 29 million dollars, after exchange rate volatility emerged.
In June the central bank had to sell 91 million dollars after buying 77.5 million dollars.
The flexible exchange rate, which is neither a consistent clean float nor a consistent peg is found in countries that go the International Monetary Fund often and also default.
Interventions are made only after fully-fledged volatility and market panic has been triggered.
https://economynext.com/sri-lanka-c...ars-for-second-month-after-volatility-128440/
