Sri Lanka foreign reserves estimated at USD7.3bln end Dec: CB

central bank of sri lanka

Jan 28, 2016 (LBO) – Sri Lanka’s gross official reserves were estimated at 7.3 billion US dollars by end December 2015, the Central Bank said.

The figure remained unchanged from end November equivalent to 4.6 months of imports, while total foreign assets amounted to 9.1 billion US dollars, equivalent to 5.7 months of imports.

During the year to November, the overall BOP is estimated to have recorded a deficit of 1,274.2 million US dollars, compared to a surplus of 1,628.3 million US dollars during the corresponding period of 2014.

Foreign investments in the Colombo Stock Exchange during 2015 recorded a net inflow of four million US dollars, reflecting net outflows from the secondary market amounting to 32.3 million US dollars and inflows to the primary market amounting to 36.3 million US dollars.

The rupee has depreciated against the US dollar by 9.03 percent during 2015. During 2016 up to 27 January 2016, the rupee has appreciated by 0.1 percent against the US dollar.

Based on cross currency exchange rate movements, the Sri Lankan rupee has appreciated against the euro by 0.7 percent, the Australian dollar by 3.8 per cent and the pound sterling by 3.5 per cent and the Indian rupee by 2.2 per cent.

The rupee has depreciated against the Japanese yen by 1.8 percent during this period.

Foreign investments in the government securities market recorded a net outflow of 1,093.4 million US dollars during 2015 compared to a net outflow of 113.1 million US dollars during 2014.

During the first eleven months of 2015, the net long term loan inflows to the Government amounted to 179.0 million US dollars.

Sri Lanka successfully issued the ninth international sovereign bond of 1,500 million US dollars on 28 October 2015 and the proceeds have been received in the first week of November 2015.