The value of the rupee is unrealistic: survey

The latest monthly poll conducted for business magazine LMD by research firm Kantar TNS reveals that more than three-quarter (77%) of the people believe that the value of the Sri Lankan rupee is unrealistic.

Some respondents go so far as to state that “there is no value in the rupee at all today” while others point out that the value of our currency fluctuates often. Meanwhile, the majority (61%) of respondents feel that the rupee will depreciate during 2017. However, 29% oppose this view, while the rest (10%) are “unsure”.

The islandwide survey reports that 83% of those surveyed by the pollsters assert that the authorities should take measures to stabilise the value of the rupee, while 6% believe otherwise.

LMD reports that more than six-in-10 respondents feel that the rupee should be pegged to the US dollar, which they believe would serve to “protect the value of the rupee” in the context of it being “important for local economic growth”.

Those surveyed cite the state of the economy, the investment climate, Sri Lanka’s risk profile, the value of the dollar, the external environment and political stability as being among the factors that come into play in the context of the rupee value.

Media Services, LMD’s publisher, says the April edition of the pioneering business magazine has been released to leading supermarkets and bookstores in Colombo and the outstations. 

Its cover story, titled ‘Ease of Doing Business’, outlines the emerging concerns in regard to setting a level playing field for domestic business interests, including viewpoints from Sri Lanka’s corporate leaders (for the full story, log on to www.LMD.lk).