Last week’s My View talked about six popular fallacies of currency or exchange rate appreciation which both the authorities and the public have tended to harbour in themselves. Of them, the following three were discussed in detail: Fallacy One: The government can fix the external value of a currency at any level it wishes. Fallacy ...

By Dinali Goonewardene As stock markets the world over strongly slid downwards on fears of slowing economic growth, foreigners took their money out of the Colombo stock market yesterday, contributing to a seven-week low. Foreign sales were Rs. 70 million and net foreign outflows Rs. 21.8 million, albeit a relatively low component of total turnover. ...