Sri Lanka BOP surplus in 2010 US$900mn

Jan 04, 2011 (LBO) – Sri Lanka expect to have had a balance of payments surplus of 900 million US dollars in 2010, Central Bank governor Nivard Cabraal said. Gross official foreign exchange reserves reached 6.6 billion US dollars by the end of 2010, he said in a speech outlining the central bank’s monetary policy road map for 2011.

The island’s external outlook had improved with higher export and tourism earnings and inflows from foreign direct investment and lending institutions.

The central bank has been absorbing forex inflows to ensure the rupee does not appreciate too much in the short term, Cabraal said.