Due to combined effects of recent steep appreciation of the rupee and upturn in market performances, the Colombo Stock Exchange (CSE) has become the second-best performing stock exchange in the world just behind Laos, according to Bloomberg.
In terms of US$ return Year-to-Date (YTD), the CSE has been ranked as the second-best performing stock exchange with a US$ return of 30 percent, just behind Laos (55 percent).
Since last week, rupee started to appreciate against the US dollar and became the world’s best performing currency so far this year amid a temporary mismatch in US$ demand-supply.
Meanwhile, CSE was up by 14 percent so far during the year, becoming one of the top 20 best performing stock exchanges in the world in terms local currency returns. In the Asia Pacific Region, the CSE was the fourth best performing stock exchange in terms local currency (LCY) returns.
Source daily mirror