Ciro Grovener

As of October, the Sri Lankan rupee (LKR) has been one of the worst-performing currencies of 2022. As economic and political turmoil grip the country, could LKR fall further in 2023?

Here we look at the latest USD/LKR news and analysts’ predictions for the US dollar to Sri Lankan rupee pair.

The USD/LKR pair started 2023 around the 363 mark, but has been down 12% year-to-date.According to Asian Development Bank (ADB) data, Sri Lanka is estimated to see a contraction in its economic growth in 2023.

In 2022, Sri Lanka's economy contracted by 11% and is further expected to shrink by 3% in 2023 as it continues to grapple with the challenge of debt restructuring and balance of payments difficulties,

The weak economic picture in Sri Lanka has been dragging on the value of the rupee. The country has recently been facing its worst financial crisis in over 70 years, culminating in the default of its debt payments.

The government has cited the pandemic as the cause of the collapse of the economy. However, some economists believe that serious political mismanagement and the racking up of debts with China have also played their part. With foreign reserves running low, the country has struggled to finance the import of essentials, such as food and fuel, since last year.

Fuel reserves have fallen to unprecedented lows, resulting in a sales ban being applied and public transport grinding to a halt. Food shortages are rife and long periods of blackout have become common.

Data from the Central Bank of Sri Lanka announced in February that headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)  decreased to 50.6% in February 2023 from 51.7% in January 2023. The decline in the headline inflation is broadly in line with the disinflation path envisaged by the Central Bank of Sri Lanka (CBSL) in January 2023.

The Central Bank of Sri Lanka said in a statement:

Inflation has risen to a record high of 69.8% year-over-year (YOY) as of October.

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 04 April 2023, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 15.50 per cent and 16.50 per cent, respectively.

The CBSL said.

Central bank Governor Nandalal Weerasinghe said a favourable base effect would start from May, while reductions in fuel prices would help achieve a faster pace of disinflation going ahead.

Governor Nandalal Weerasinghe said:

CBSL raised rates by 100 basis points in early March. This was the first increase in seven months and was part of the country's efforts to finalise a four-year IMF programme to help the island emerge from its worst financial crisis in more than seven decades.

In its most recent policy report, the bank said: “Having considered the recent and expected economic developments, and macroeconomic projections on domestic and global fronts, the Board viewed that the maintenance of the prevailing tight monetary policy stance is necessary to ensure that monetary conditions remain sufficiently tight to facilitate the continuation of the ongoing disinflation process amidst the improvements in market sentiments following the finalisation of the Extended Fund Facility (EFF) from the International Monetary Fund (IMF) and the downward shift in elevated market interest rates reflecting the falling risk premia."

“Inflation is projected to follow a faster disinflation path, thereby further anchoring inflation expectations”

In January, President Ranil Wickremesinghe said the country's economy could contract by -3.5% or 4.0% in January.

Wickremesinghe said:"From 2024, we will take this economy to positive growth. We are creating a strong country that does not bow down to anyone and is debt-free. The growth rate of the economy in 2022 was -11% and could be -3.5 or -4.0% this year."

The government is ready to implement prudent economic management after successful debt restructuring.

With contractionary monetary and fiscal policies already in place, alongside the measures to curtail non-urgent import expenditure, analysts expect this to result in a notable contraction in credit to the private sector and possible upside risks to unemployment in the near term.

On 20 March, the IMF Board approved a 48-month extended arrangement under the Extended Fund Facility (EFF) of SDR 2.286 billion (about US$3 billion) to support Sri Lanka’s economic policies and reforms.

The International Monetary Fund  (IMF) has been in and out of talks with the country to arrange a bailout package, amid hopes that Sri Lanka’s political problems can be solved. In a recent press briefing, the IMF  said:

Following the Executive Board discussion on Sri Lanka, Ms. Kristalina Georgieva, Managing Director, issued the following statement:

The US dollar has seen an impressive surge in 2022. The US dollar index (DXY), which values the USD against a basket of major currencies, rose to a 20-year high at the end of last month at 114.78.

However, the index has since corrected slightly but remains in an ascending channel at 113.43 at the time of writing on 21 October.

The annual inflation rate in the US slowed only slightly to 6.4% in January of 2023 from 6.5% in December, less than market forecasts of 6.2%. Still, it is the lowest reading since October 2021. This was caused by supply chain issues, the war in Ukraine, which upended global trade and sent fuel prices surging. The US was propped up by government handouts and savings, consumers managed to bounce back from pandemic shutdowns only to find a short supply of everything from used cars to housing, which has triggered a cost of living crisis.

High inflation levels have encouraged the Fed to adopt a more aggressive approach to raising interest rates. The Federal Reserve delivered its nineth straight interest rate increase in March and the Board of Governors of the Federal Reserve System voted unanimously to approve a 1/4 percentage point increase in the primary credit rate to 5 percent, effective 23 March 2023.

The Fed also forecast raising interest rates to 5.1 percent by the end of 2023, before coming down to 4.3 percent by the end of 2024.

Hawkish Federal Reserve bets have been rising for some time. However, fears are also growing that the Fed could tip the US economy into recession by hiking too aggressively. The fears have also driven a safe play in the greenback.

Whether the US economy falls into a recession or not remains to be seen. However, there are some signs in the market that a recession could be coming. For example, the two-year and 10-year US Treasury yields have inverted. This is traditionally considered a warning signal for a recession in the US.

So, where could the US dollar to Sri Lanka rupee forecast go from here? Given that there are a rupee weakness and a dollar strength story in play, let’s see what the analysts think.

Sri Lanka’s rupee, which became the world’s best performing currency in 2022 amid hopes of an International Monetary Fund bailout, may resume declines and lose a fifth of its value against the dollar by end-2023, according to Fitch Solutions.

Seah Wang Ting, country risk analyst at Fitch Solutions said:

Fitch maintained its forecast for the rupee to weaken to a record low of 390 per dollar by year-end.

Sri Lanka has increased taxes, cut energy subsidies and loosened its grip on the currency to secure the IMF loan. The central bank recently lifted borrowing costs further to ensure that inflation which has slowed from nearly 70% doesn’t flare up.

Fitch said in a report:

The Sri Lankan rupee may also be pressured by tightening global monetary conditions, according to Fitch. Federal Reserve Chair Jerome Powell told the Senate Banking Committee in March that the ultimate level of interest rates is likely to be higher than previously anticipated.

Analysts at ING were relatively bullish in their USD outlook, saying:

The USD/LKR forecast 2023 from Trading Economics, predicts that The Sri Lankan Rupee is expected to trade at 325.05 by the end of this quarter. Looking forward, we estimate it to trade at 357.15 in 12 months time.

The USD/LKR forecast from algorithm-based forecaster Wallet Investor predicted in the longer term, its USD/LKR forecast for 2025 saw the rate rising to 501.558 by the end of the year.

Wallet Investor’s predictions for 2027 saw the pair rising further to 582.878 by October of that year. Continuing with this trend, the USD/LKR forecast for 2030 could be higher still. However, at the time of writing, no services offered a USD/LKR prediction that far into the future.

When looking at USD/LKR forecasts, remember that analysts can and do get their predictions wrong. We recommend you always research and consider the latest market trends and news, technical and fundamental analysis and expert opinion before making any investment decisions, and never invest money you cannot afford to lose.

The history of macOS, Apple's current Mac operating system formerly named Mac OS X until 2011 and then OS X until 2016, began with the company's project to replace its "classic" Mac OS. That system, up to and including its final release Mac OS 9, was a direct descendant of the operating system Apple had used in its Mac computers since their introduction in 1984. However, the current macOS is a Unix operating system built on technology that had been developed at NeXT from the 1980s until Apple purchased the company in early 1997. beta

Although it was originally marketed as simply "version 10" of the Mac OS (indicated by the Roman numeral "X"), it has a completely different codebase from Mac OS 9, as well as substantial changes to its user interface. The transition was a technologically and strategically significant one. To ease the transition for users and developers, versions through 10.4 were able to run Mac OS 9 and its applications in a compatibility layer.

macOS was first released in 1999 as Mac OS X Server 1.0. It was built using the technologies Apple acquired from NeXT, but didn’t include the signature Aqua user interface (UI). The desktop version aimed at regular users—Mac OS X 10.0—shipped in March 2001. Since then, several more distinct desktop and server editions of macOS have been released. Starting with Mac OS X 10.7 Lion, macOS Server is no longer offered as a standalone operating system; instead, server management tools are available for purchase as an add-on. The macOS Server app has been discontinued since April 2022 and will no longer work on macOS versions past macOS 12 Monterey. Starting with the Intel build of Mac OS X 10.5 Leopard, most releases have been certified as Unix systems conforming to the Single Unix Specification.[1][2][3][4][5]

Lion was referred to by Apple as "Mac OS X Lion" and sometimes as "OS X Lion"; Mountain Lion was officially referred to as just "OS X Mountain Lion", with the "Mac" being completely dropped. The operating system was further renamed to "macOS" starting with macOS Sierra.

macOS retained the major version number 10 throughout its development history until the release of macOS 11 Big Sur in 2020; releases of macOS have also been named after big cats (versions 10.0–10.8) or locations in California (10.9–present).

The current major version, macOS 13 Ventura, was announced on June 6, 2022 at WWDC 2022 and released on October 25 of that year.

After Apple removed Steve Jobs from management in 1985, he left the company and attempted to create the "next big thing", with funding from Ross Perot[6] and himself. The result was the NeXT Computer. As the first workstation to include a digital signal processor (DSP) and a high-capacity optical disc drive, NeXT hardware was advanced for its time, but was expensive relative to the rapidly commoditizing workstation market. The hardware was phased out in 1993; however, the company's object-oriented operating system NeXTSTEP had a more lasting legacy.[citation needed]

NeXTSTEP was based on the Mach kernel developed at CMU (Carnegie Mellon University)[7] and BSD, an implementation of Unix dating back to the 1970s. It featured an object-oriented programming framework based on the Objective-C language. This environment is known today in the Mac world as Cocoa. It also supported the innovative Enterprise Objects Framework database access layer and WebObjects application server development environment, among other notable features.[citation needed]

All but abandoning the idea of an operating system, NeXT managed to maintain a business selling WebObjects and consulting services, only ever making modest profits in its last few quarters as an independent company. NeXTSTEP underwent an evolution into OPENSTEP which separated the object layers from the operating system below, allowing it to run with less modification on other platforms. OPENSTEP was, for a short time, adopted by Sun and HP.

However, by this point, a number of other companies — notably Apple, IBM, Microsoft, and even Sun itself — were claiming they would soon be releasing similar object-oriented operating systems and development tools of their own. Some of these efforts, such as Taligent, did not fully come to fruition; others, like Java, gained widespread adoption.[citation needed]

On February 4, 1997, Apple Computer acquired NeXT for $427 million, and used OPENSTEP as the basis for Mac OS X, as it was called at the time.[8] Traces of the NeXT software heritage can still be seen in macOS. For example, in the Cocoa development environment, the Objective-C library classes have "NS" prefixes, and the HISTORY section of the manual page for the defaults command in macOS straightforwardly states that the command "First appeared in NeXTStep."[citation needed]

Meanwhile, Apple was facing commercial difficulties of its own. The decade-old Macintosh System Software had reached the limits of its single-user, co-operative multitasking architecture, and its once-innovative user interface was looking increasingly outdated. A massive development effort to replace it, known as Copland, was started in 1994, but was generally perceived outside Apple to be a hopeless case due to political infighting and conflicting goals. By 1996, Copland was nowhere near ready for release, and the project was eventually cancelled. Some elements of Copland were incorporated into Mac OS 8, released on July 26, 1997.

After considering the purchase of BeOS — a multimedia-enabled, multi-tasking OS designed for hardware similar to Apple's, the company decided instead to acquire NeXT and use OPENSTEP as the basis for their new OS. Avie Tevanian took over OS development, and Steve Jobs was brought on as a consultant. At first, the plan was to develop a new operating system based almost entirely on an updated version of OPENSTEP, with the addition of a virtual machine subsystem — known as the Blue Box — for running "classic" Macintosh applications. The result was known by the code name Rhapsody, slated for release in late 1998.

Apple expected that developers would port their software to the considerably more powerful OPENSTEP libraries once they learned of its power and flexibility. Instead, several major developers such as Adobe told Apple that this would never occur, and that they would rather leave the platform entirely. This "rejection" of Apple's plan was largely the result of a string of previous broken promises from Apple; after watching one "next OS" after another disappear and Apple's market share dwindle, developers were not interested in doing much work on the platform at all, let alone a re-write.

Apple's financial losses continued and the board of directors lost confidence in CEO Gil Amelio, asking him to resign. The board asked Steve Jobs to lead the company on an interim basis, essentially giving him carte blanche to make changes to return the company to profitability. When Jobs announced at the World Wide Developer's Conference that what developers really wanted was a modern version of the Mac OS, and Apple was going to deliver it[citation needed], he was met with applause.

Over the next two years, a major effort was applied to porting the original Macintosh APIs to Unix libraries known as Carbon. Mac OS applications could be ported to Carbon without the need for a complete re-write, making them operate as native applications on the new operating system. Meanwhile, applications written using the older toolkits would be supported using the "Classic" Mac OS 9 environment. Support for C, C++, Objective-C, Java, and Python were added, furthering developer comfort with the new platform.[citation needed]

During this time, the lower layers of the operating system (the Mach kernel and the BSD layers on top of it[9]) were re-packaged and released under the Apple Public Source License. They became known as Darwin. The Darwin kernel provides a stable and flexible operating system, which takes advantage of the contributions of programmers and independent open-source projects outside Apple; however, it sees little use outside the Macintosh community.[citation needed]

During this period, the Java programming language had increased in popularity, and an effort was started to improve Mac Java support. This consisted of porting a high-speed Java virtual machine to the platform, and exposing macOS-specific "Cocoa" APIs to the Java language.[citation needed]

The first release of the new OS — Mac OS X Server 1.0 — used a modified version of the Mac OS GUI, but all client versions starting with Mac OS X Developer Preview 3 used a new theme known as Aqua. Aqua was a substantial departure from the Mac OS 9 interface, which had evolved with little change from that of the original Macintosh operating system: it incorporated full color scalable graphics, anti-aliasing of text and graphics, simulated shading and highlights, transparency and shadows, and animation. A new feature was the Dock, an application launcher which took advantage of these capabilities.

Despite this, Mac OS X maintained a substantial degree of consistency with the traditional Mac OS interface and Apple's own Apple Human Interface Guidelines, with its pull-down menu at the top of the screen, familiar keyboard shortcuts, and support for a single-button mouse. The development of Aqua was delayed somewhat by the switch from OpenStep's Display PostScript engine to one developed in-house that was free of any license restrictions, known as Quartz.[citation needed]

With the exception of Mac OS X Server 1.0 and the original public beta, the first several macOS versions were named after big cats. Prior to its release, version 10.0 was code named "Cheetah" internally at Apple, and version 10.1 was code named internally as "Puma".

After the code name "Jaguar" for version 10.2 received publicity in the media, Apple began openly using the names to promote the operating system: 10.3 was marketed as "Panther", 10.4 as "Tiger", 10.5 as "Leopard", 10.6 as "Snow Leopard", 10.7 as "Lion", and 10.8 as "Mountain Lion". "Panther", "Tiger", and "Leopard" were registered as trademarks.

Apple registered "Lynx" and "Cougar", but these were allowed to lapse.[32] Apple started using the name of locations in California for subsequent releases: 10.9 Mavericks is named after Mavericks, a popular surfing destination; 10.10 Yosemite is named after Yosemite National Park; 10.11 El Capitan is named for the El Capitan rock formation in Yosemite National Park; 10.12 Sierra is named for the Sierra Nevada mountain range; and 10.13 High Sierra is named for the area around the High Sierra Camps.[citation needed]

On September 13, 2000, Apple released a $29.95[33] "preview" version of Mac OS X (internally codenamed Kodiak) in order to gain feedback from users.[34] It marked the first public availability of the Aqua interface, and Apple made many changes to the UI based on customer feedback. Mac OS X Public Beta expired and ceased to function in spring 2001.[35]

On March 24, 2001, Apple released Mac OS X 10.0 (internally codenamed Cheetah).[36] The initial version was slow, incomplete, and had very few applications available at the time of its launch, mostly from independent developers. While many critics suggested that the operating system was not ready for mainstream adoption, they recognized the importance of its initial launch as a base on which to improve. Simply releasing Mac OS X was received by the Macintosh community as a great accomplishment, for attempts to completely overhaul the Mac OS had been underway since 1996, and delayed by countless setbacks. Following some bug fixes, kernel panics became much less frequent.

Mac OS X 10.1 (internally codenamed Puma) was released on September 25, 2001.[37] It has better performance and provided missing features, such as DVD playback. Apple released 10.1 as a free upgrade CD for 10.0 users. Apple released a US$129 upgrade CD for Mac OS 9.

On January 7, 2002, Apple announced that Mac OS X was to be the default operating system for all Macintosh products by the end of that month.[38]

On August 23, 2002,[39] Apple followed up with Mac OS X 10.2 Jaguar, the first release to use its code name as part of the branding.[40] It brought great raw performance improvements, a sleeker look, and many powerful user-interface enhancements (over 150, according to Apple[41] ), including Quartz Extreme for compositing graphics directly on an ATI Radeon or Nvidia GeForce2 MX AGP-based video card with at least 16 MB of VRAM, a system-wide repository for contact information in the new Address Book, and an instant messaging client named iChat.[42] The Happy Mac which had appeared during the Mac OS startup sequence for almost 18 years was replaced with a large grey Apple logo with the introduction of Mac OS X 10.2.

Mac OS X Panther was released on October 24, 2003. In addition to providing much improved performance, it also incorporated the most extensive update yet to the user interface. Panther included as many or more new features as Jaguar had the year before, including an updated Finder, incorporating a brushed-metal interface, Fast user switching, Exposé (Window manager), FileVault, Safari, iChat AV (which added videoconferencing features to iChat), improved Portable Document Format (PDF) rendering and much greater Microsoft Windows interoperability.[43] Support for some early G3 computers such as the Power Macintosh and PowerBook was discontinued.

Mac OS X Tiger was released on April 29, 2005. Apple stated that Tiger contained more than 200 new features.[44] As with Panther, certain older machines were no longer supported; Tiger requires a Mac with a built-in FireWire port. Among the new features, Tiger introduced Spotlight, Dashboard, Smart Folders, updated Mail program with Smart Mailboxes, QuickTime 7, Safari 2, Automator, VoiceOver, Core Image and Core Video. The initial release of the Apple TV used a modified version of Tiger with a different graphical interface and fewer applications and services.[45]

On January 10, 2006, Apple released the first Intel x86-based Macs along with the 10.4.4 update to Tiger. This operating system functioned identically on the PowerPC-based Macs and the new Intel-based machines, with the exception of the Intel release dropping support for the Classic environment.[45] 10.4.4 introduced Rosetta, which translated 32-bit PowerPC machine code to 32-bit x86 code, allowing applications for PowerPC to run on Intel-based Macs without modification. Only PowerPC Macs can be booted from retail copies of the Tiger client DVD, but there is a Universal DVD of Tiger Server 10.4.7 (8K1079) that can boot both PowerPC and Intel Macs.

Mac OS X Leopard was released on October 26, 2007. Apple called it "the largest update of Mac OS X". Leopard supports both PowerPC- and Intel x86-based Macintosh computers; support for Macs with the G3 processor was dropped, and Macs with the G4 processor required a minimum clock rate of 867 MHz and at least 512 MB of RAM to be installed. The single DVD works for all supported Macs (including 64-bit machines). New features include a new look, an updated Finder, Time Machine, Spaces, Boot Camp pre-installed,[46] full support for 64-bit applications (including graphical applications), new features in Mail and iChat, and a number of new security features.

Leopard is an Open Brand UNIX 03 registered product on the Intel platform. It was also the first BSD-based OS to receive UNIX 03 certification.[1][47] Leopard dropped support for the Classic Environment and all Classic applications,[48] and was the final version of Mac OS X to support the PowerPC architecture.

Mac OS X Snow Leopard was released on August 28, 2009, the last version to be available on disc. Rather than delivering big changes to the appearance and end user functionality like the previous releases of Mac OS X, the development of Snow Leopard was deliberately focused on "under the hood" changes, increasing the performance, efficiency, and stability of the operating system. For most users, the most noticeable changes are these: the disk space that the operating system frees up after a clean installation compared to Mac OS X 10.5 Leopard, a more responsive Finder rewritten in Cocoa, faster Time Machine backups, more reliable and user friendly disk ejects, a more powerful version of the Preview application, as well as a faster Safari web browser.[49]

An update introduced support for the Mac App Store, Apple's digital distribution platform for macOS applications and subsequent macOS upgrades.[49] Snow Leopard only supports Macs with Intel CPUs, requires at least 1 GB of RAM, and drops default support for applications built for the PowerPC architecture (Rosetta can be installed as an additional component to retain support for PowerPC-only applications).[50]

Mac OS X Lion (also known as OS X Lion) was released on July 20, 2011. It brought developments made in Apple's iOS, such as an easily navigable display of installed applications (Launchpad) and (a greater use of) multi-touch gestures, to the Mac. This release removed Rosetta, making it incapable of running PowerPC applications. It dropped support for 32-bit Intel processors and requires 2GB of memory. Changes made to the GUI (Graphical User Interface) include the Launchpad (similar to the home screen of iOS and iPadOS devices), auto-hiding scrollbars that only appear when they are being used, and Mission Control, which unifies Exposé, Spaces, Dashboard, and full-screen applications within a single interface.[51] Apple also made changes to applications: they resume in the same state as they were before they were closed (similar to iOS). Documents auto-save by default.

OS X Mountain Lion was released on July 25, 2012. It incorporates some features seen in iOS 5, which include Game Center, support for iMessage in the new Messages messaging application, and Reminders as a to-do list app separate from iCal (which is renamed as Calendar, like the iOS app). It also includes support for storing iWork documents in iCloud. 2GB of memory is required.[52] Notification Center, which makes its debut in Mountain Lion, is a desktop version similar to the one in iOS 5.0 and higher. Application pop-ups are now concentrated on the corner of the screen, and the Center itself is pulled from the right side of the screen. Mountain Lion also includes more Chinese features, including support for Baidu as an option for Safari search engine.[53] Notification Center is added, providing an overview of alerts from applications. Notes is added, as an application separate from Mail, synching with its iOS counterpart[54][55] through the iCloud service. Messages, an instant messaging software application,[56] replaces iChat.[57]

OS X Mavericks was released on October 22, 2013, as a free update through the Mac App Store worldwide.[58] It placed emphasis on battery life, Finder enhancements, other enhancements for power users, and continued iCloud integration, as well as bringing more of Apple's iOS apps to the OS X platform. iBooks and Apple Maps applications were added. Mavericks requires 2GB of memory to operate. It is the first version named under Apple's then-new theme of places in California, dubbed Mavericks after the surfing location.[59][60] Unlike previous versions of OS X, which had progressively decreasing prices since 10.6, 10.9 was available at no charge to all users of compatible systems running Snow Leopard (10.6) or later,[61] beginning Apple's policy of free upgrades for life on its operating system and business software.[62]

OS X Yosemite was released to the general public on October 16, 2014, as a free update through the Mac App Store worldwide. It featured a major overhaul of user interface, replaced skeuomorphism with flat graphic design and blurred translucency effects, following the aesthetic introduced with iOS 7. It introduced features called Continuity and Handoff, which allow for tighter integration between paired OS X and iOS devices: the user can handle phone calls or text messages on either their Mac or their iPhone, and edit the same Pages document on either their Mac or their iPad. A later update of the OS included Photos as a replacement for iPhoto and Aperture.[citation needed]

OS X El Capitan was revealed on June 8, 2015, during the WWDC15 keynote speech.[63] It was made available as a public beta in July and was made available publicly on September 30, 2015. Apple described this release as containing "Refinements to the Mac Experience" and "Improvements to System Performance" rather than new features. Refinements include public transport built into the Maps application, GUI improvements to the Notes application, as well as adopting San Francisco as the system font. Metal API, an application enhancing software, had debuted in this operating system, being available to "all Macs since 2012".[64]

macOS Sierra was announced on June 13, 2016, during the WWDC16 keynote speech. The update brought the Siri assistant to macOS, featuring several Mac-specific features, like searching for files. It also allowed websites to support Apple Pay as a method of transferring payment, using either a nearby iOS device or Touch ID to authenticate. iCloud also received several improvements, such as the ability to store a user's Desktop and Documents folders on iCloud so they could be synced with other Macs on the same Apple ID. It was released publicly on September 20, 2016.[65]

macOS High Sierra was announced on June 5, 2017, during the WWDC17 keynote speech. It was released on September 25, 2017. The release includes many under-the-hood improvements, including a switch to Apple File System (APFS), the introduction of Metal 2, support for HEVC video, and improvements to VR support. In addition, numerous changes were made to standard applications including Photos, Safari, Notes, and Spotlight.[66]

macOS Mojave was announced on June 4, 2018, during the WWDC18 keynote speech. It was released on September 24, 2018. Some of the key new features were Dark wallpaper in dark mode, Desktop stacks and Dynamic Desktop, which changes the desktop background image to correspond to the user's current time of day.[67]

macOS Catalina was announced on June 3, 2019, during the WWDC19 keynote speech. It was released on October 7, 2019. It primarily focuses on updates to built-in apps, such as replacing iTunes with separate Music, Podcasts, and TV apps, redesigned Reminders and Books apps, and a new Find My app. It also features Sidecar, which allows the user to use an iPad as a second screen for their computer, or even simulate a graphics tablet with an Apple Pencil. It is the first version of macOS not to support 32-bit applications. The Dashboard application was also removed in the update.[68][69] Since macOS Catalina, iOS apps can run on macOS with Project Catalyst but requires the app to be made compatible[70] unlike ARM-powered Apple silicon Macs that can run all iOS apps by default.[71]

macOS Big Sur was announced on June 22, 2020, during the WWDC20 keynote speech.[72] It was released November 12, 2020.[73] The major version number is changed, for the first time since "Mac OS X" was released, making it macOS 11. It brings ARM support, new icons, GUI changes to the system,[74] and other bug fixes. Since macOS 11.2.3, it is no longer possible to install iOS apps by default from an IPA file instead of the Mac App Store on Apple silicon Macs, which now requires third-party software to unlock the functionality.[75][76] Big Sur introduced Rosetta 2 to allow 64-bit Intel applications to run on Apple silicon Macs. However, Intel-based Macs are unable to run ARM-based applications, including iOS and iPadOS apps.

macOS Monterey was announced on June 7, 2021, during the WWDC21 keynote speech.[77] It was released on October 25, 2021.[78] macOS Monterey introduces new features such as Portrait mode in FaceTime, Universal Control, AirPlay to Mac, Shortcuts application, and more. Universal Control allows users to use a single keyboard and mouse to move between devices. AirPlay now allows users to present and share almost anything. The Shortcuts app was also introduced to macOS, giving users access to galleries of pre-built shortcuts, designed for Macs, a service brought from iOS. Users can now also set up shortcuts, among other things.[79]

macOS Ventura was announced on June 6, 2022, during the WWDC22 keynote speech.[80] It was released on October 24, 2022.[81] macOS Ventura introduces Stage Manager, a new and optional window manager, Continuity Camera, which is a program that allows Mac users to use their iPhone as a camera, and several other new features.[80]

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You can reach Prayagraj either by train or bus From the railway station, reaching the mela ground is a

Information about ZDS file extension and tips to open ZDS files

Military Time / 24 Hour Time Conversion Chart ; Midnight (12:00 am) 0000 or 0000 hours 0 :00 ; 1:00 am 0100 or 0100 hours 1:00 ; 2:00 am 0200 or 0200

Earlier this week, Auto Motor und Sport reported Skoda decided to stop work of an all-new Roomster , even though the model was in an advanced

Here is how we calculate Liquidity Coverage Ratio:

Liquidity Coverage Ratio = (High Quality Liquid Assets) / (Total net cash outflows over the next 30 calendar days)

Every asset that can be easily and instantly converted into cash at minimum or no cost of value is a High-Quality Liquid Asset.

As mentioned earlier, the Liquidity Coverage Ratio in banking resulted from the Basel III agreement, which is a series of measures undertaken by the Basel Committee on Bank Supervision (BCBS). This international committee comprises 45 members in 28 jurisdictions across the world.

A pertinent question to ask would be: why keep only 30 days’ worth of high-quality liquid assets? A period of 30 days allows governments or central banks such as the RBI enough time to step in and save the bank from defaulting.

You might think that High Quality Liquid Assets that last only 30 days are probably insufficient for a bank weathering a stress period. In some cases, this is true. Another ratio that the Basel III rules mandate is the Net Stable Funding Ratio (NSFR).

Just as Liquidity Coverage Ratio promotes the short-term resilience of banks, the NSFR promotes their resilience over a longer-term. It requires banks to fund their activities with more stable funding sources on an ongoing basis.

NSFR = (Available Stable Funding) (ASF) / (Required Stable Funding) (RSF) ≥ 100

This ratio, just like Liquidity Coverage Ratio, should always be above 100.

LCR ratio being a preventive measure, it is generally beneficial for a bank, especially during a financial crisis. But it has its share of limitations, too. Both LCR and NSFR require banks to hold more cash in terms of assets. Hence, the ability of a bank to disburse loans to companies and individuals reduces. It can further lead to an economic slowdown, hence reducing the capacity of individuals to avail of loans and the ability of businesses to expand.