Category: Economy and Markets

Governor_of_the_Central_Bank_Arjuna_Mahendran

Sri Lanka govt in informal consultation with IMF: CB Governor

Dec 31, 2015 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran said that they are examining the possibilities of an International Monetary Fund (IMF) loan facility next year. “Yes we are examining the possibilities and the government are in informal consultation with the IMF,” Mahendran said. “A team is due here for regular discussions […]

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Sri Lanka economy grew 5.2 pct in first nine months : CB-Updated

(Updated with Central Bank presentation) Dec 31, 2015 (LBO) -Sri Lanka’s economy grew 5.2 percent during the first nine months of the year compared with 2.4 percent growth during the same period last year, the Central Bank said on Thursday. Strong credit growth to the private sector seeping out as consumption imports was, however, a […]

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Sri Lanka Central Bank tightens monetary policy, increases SRR

Dec 30, 2015 (LBO) – Sri Lanka’s Central Bank tightened monetary policy on Wednesday citing concerns over expansion in monetary aggregates fueling inflation. The Monetary Board raised the Statutory Reserve Ratio (SRR) applicable to all rupee deposit liabilities of commercial banks by 1.50 percentage points to 7.50 per cent effective from 16 January. The Standing […]

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Sri Lanka stocks close up 0.3-pct

Dec 30, 2015 (LBO) – Sri Lankan stocks closed up at 0.33 percent with some banking and finance sector stocks making gains, brokers said. The Colombo benchmark All Share Price Index closed higher at 22.89 points at 6,870.63 up 0.33 percent. S&P SL20 closed 12.95 points up at  3,605.07 up 0.36 percent. Turnover was at […]

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Sri Lanka T-bill yields up  

Dec 30, 2015 (LBO) – Sri Lankan Treasury Bill yields were up at Wednesday’s auction with one-year yields up 19 basis points to 7.30 percent, a statement said. Three month bills were up 7 basis points to 6.45 percent at the auction and the six month bill yields rose 14 basis points to 6.83 percent. […]

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Sri Lanka’s Sanasa Development Bank debenture issue oversubscribed

Dec 30, 2015 (LBO) – Sri Lanka’s Sanasa Development Bank said that its listed debenture issue has drawn subscriptions worth over 4 billion rupees and successfully completing both tranches. “We have received applications for over 4 billion rupees and accordingly the total issue has been oversubscribed,” the Bank said in a stock exchange filling. “The […]

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Rs50 bln in bonds likely privately placed by Sri Lanka Central Bank

Dec 29, 2015 (LBO) – Sri Lanka’s Central Bank may have privately placed 50 billion rupees in bonds with state funds this month making an exception to its policy to rely solely on primary auctions, sources said. The central bank issued 744 billion rupees in treasury bonds through auctions this year compared with just 31.7 […]

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Dollar gains limited in 2016, fund managers look elsewhere

Dec 29, 2015 (LBO) – US Dollar gains are expected to be limited next year compared with the strengthening seen over the last two years after a well-expected tightening of interest rates by the US Fed this month. The dollar rallied 10 percent to 1.09 per euro this year from 1.2 per euro at the […]

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Sri Lanka foreign reserves rise to USD7.3 bln in Nov

Dec 29, 2015 (LBO) – Sri Lanka’s official foreign reserves increased to 7,295 million dollars at the end of November this year, up from 6,480 million dollars at the end of October after a sovereign bond issue, according to figures released by the Central Bank. This included 6,463 million dollars in foreign reserves and 756 […]

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