Cautious Capital

Sri Lanka’s interbank markets are quoting clean money at 9 and repo at 8.125 after market opened for trading. Sri Lanka’s interbank markets are quoting clean money at 9 and repo at 8.125 after market opened for trading. The foreign exchange markets yet to become active but officials say the Central Bank is ready to provide liquidity if needed.

But the Colombo Stock Exchange is closed for trading on Monday as Sri Lanka takes stock of the economic and human devastation of the tidal wave that hit the country.

“We have decided not to trade today,” CSE’s General Manager Marketing Rajeeva Bandaranaike said.

Sri Lanka’s beach resorts which have been the top performers of the exchange have been badly hit by the tidal wave.

Tourists have died and hotel properties washed away. Stockmarkets throughout asia had taken a hit after in early morning trade on Monday.

-LBO Newsdesk: lboemail@vanguardlanka.com