Category: Money
Sri Lankan rupee closes steady; state-controlled bank sells dollars
Dec 16, 2016 (Reuters) – The Sri Lankan rupee came off early falls to close almost steady on Friday as a state-controlled bank sold dollars, dealers said. The rupee is still under pressure as banks bought the greenback after the central bank raised the spot reference rate on Thursday and the U.S. Federal Reserve on […]
Sri Lankan rupee eases on importer dollar demand; stx up
Dec 01, 2016 (Reuters) – The Sri Lankan rupee eased slightly on Thursday due to importer dollar demand in dull trade on fears that economic policies of U.S. President-elect Donald Trump may lead to a rise in the greenback and trigger foreign fund outflows. Dealers see the rupee being under pressure till seasonal inward remittances […]
Sri Lankan rupee edges up on exporter dollar sales; stx up
Nov 30, 2016 (Reuters) – The Sri Lankan rupee was trading slightly higher on Wednesday, as exporter dollar sales surpassed importer demand for the greenback after the central bank said it was in advance talks with China Development Bank for a $200 million swap. However, dealers expect the rupee to be under pressure till seasonal […]
Sri Lankan rupee steady as exporter dollar sales offset importer demand
Nov 24, 2016 (Reuters) – The Sri Lankan rupee was steady on Thursday as dollar selling by exporters offset demand for the U.S. currency by importers who fear the economic policies of U.S. President-elect Donald Trump would lead to a rise in the dollar and interest rates. Dealers said foreign investors might pull out of […]
Sri Lankan rupee edges down on importer dollar demand; stocks up
Nov 23, 2016 (Reuters) – The Sri Lankan rupee fell slightly on Wednesday due to dollar demand from importers on fears that U.S. President-elect Donald Trump’s policies would lead to a rise in rates and the greenback. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next […]
Sri Lankan rupee weaker on importer dollar demand; stocks down
Nov 22, 2016 (Reuters) – The Sri Lankan rupee was trading weaker on Tuesday due to dollar demand from importers on fears that the U.S. President-elect Donald Trump’s policies would spark higher rates and strengthen the dollar. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next […]
Sri Lankan rupee falls; IMF loan caps losses
Nov 21, 2016 (Reuters) – The Sri Lankan rupee was trading slightly weaker on Monday on worries capital outflows would increase as incoming U.S. President Donald Trump’s policies were seen guiding U.S. interest rates higher and strengthening the dollar. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest […]
Sri Lankan rupee edges down on capital outflow fears
Nov 18, 2016 (Reuters) – The Sri Lankan rupee fell on Friday on persistent worries of capital outflows as incoming President Donald Trump’s policies are seen aiding higher U.S. interest rates and a strong dollar. Rupee forwards were active, with the spot-next trading at 148.70/95 per dollar, compared with Thursday’s close of 148.65/75. “The rupee […]
Sri Lankan rupee falls on capital outflow fears; stocks weaker
Nov 16, 2016 (Reuters) – The Sri Lankan rupee was marginally weaker on Wednesday on fears that higher interest rates in the U.S. under incoming President Donald Trump would spark capital outflows from the domestic market. Expectations that Trump’s administration will cut taxes, increase spending and accelerate inflation have lifted the dollar and driven bond […]
Sri Lanka foreign reserves drop by USD395mn in Oct: Central Bank
Nov 11, 2016 (LBO) – Sri Lanka’s official reserves dropped 394.6 million US dollars to 6.1 billion dollars in October, down from 6.5 billion dollars at the end of September, official Central Bank data showed. Foreign currency reserves were 5.1 billion US dollars and reserves in Gold were 0.91 billion US dollars. Central Bank has […]
Sri Lanka to introduce new law protecting foreign reserves
Nov 11, 2016 (LBO) – Sri Lanka has proposed to introduce a new Foreign Exchange Act to protect foreign reserves from irregular transactions. Finance Minister Ravi Karunanayake told Parliament yesterday that the current Exchange Control Act will be repealed for this purpose. An Investment Inflow Management Act will be introduced to facilitate the inward remittance […]
Sri Lankan rupee weaker as regional currencies drop
Nov 11, 2016 (Reuters) – The Sri Lankan rupee edged down on Friday, in line with a selloff in emerging market currencies, as investors feared higher U.S. interest rates under incoming President Donald Trump will spark capital outflows from those markets. The weakness in the rupee followed Sri Lanka’s budget proposals on Thursday to revise […]