The US $ is quoted at RS 285 as per yesterdays Banking news. The market seemed to hold Fridays uptrend with the ASPI closing up 67. (0.66%) points and the more liquid S&P SL 20 up 32 points (0.90%) with lowest turnover recorded for 7 months of 1.1 billion indicating more consolidation at current prices . February has recommended an inflation of 17.5% yoy and it’s very clear that March is definitely going to be much higher and the real returns for Fixed deposits and savings are a massive negative of double digits for any investor. If you take into consideration similar countries like Argentina and Turkey post devaluation , the market has initially retreated but has gone up much higher compared to the the percentage of the currency devaluation . In SriLanka the devaluation or the flexibility of the rupee has not settled yet hence the market is still looking to consolidate before the uptrend starts
