Category: Forex
BRICS Development Bank To Counter Western Lenders
July 22, 2015 (LBO) – The BRICS group of emerging economies launched its New Development Bank (NDB) in Shanghai on Tuesday with the promise of more financial security to its member states and developing countries. Set up by Brazil, Russia, India, China and South Africa, it is seen by many as a counter to the […]
Sri Lanka to strengthen rupee to 129 in next two weeks: Finance Minister
June 23, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake says the government will strengthen the rupee to 129/130 against the US dollar in the coming two weeks. “When we tookover the government it was at 133.25 rupees to the US dollar and now it is at 133.90 rupees,” Karunanayake told reporters Tuesday. “In two […]
Sri Lanka’s foreign reserves upsurge to USD7.5bn in April, CB predicts further growth
June 2, 2015 (LBO) – Sri Lanka’s gross foreign reserves rose to 7.5 billion US dollars in April 2015 from 6.8 billion US dollars in March, due to a 400 million US dollar currency swap from the Reserve Bank of India, Central Bank said. The regulator says the reserves likely to increase further helped by […]