Category: Economy and Markets
Sri Lanka inflation up 6.3-pct in August
Aug 30, 2013 (LBO) – Sri Lanka’s inflation measured in the capital Colombo rose 6.3 percent in the 12-months to August up from 6.1 percent in July, though prices fell during the month, the state statistics office said.The Colombo Consumer Price Index fell 0.6 points during August to 176.2 points. ¬¬The food and non-alcoholic beverages […]
Sri Lanka tightens rules on car imports amid currency pressure
Aug 30, 2013 (LBO) – Sri Lanka has imposed a 100 percent cash margin on letters of credit to import cars to slow the imports of cars, the Central Bank said as the rupee came under pressure in forex markets. The central bank said currencies of several trading partners have weakened against the Sri Lanka […]
Sri Lanka rupee under moral suasion, bonds ease
Aug 30, 2013 (LBO) – Sri Lanka’s rupee was quoted at 132.95/133.10 to the US dollar in the spot next market amid moral suasion dealers said while bond yields eased slightly. Sri Lanka today imposed a 100 percent margin on letters of credit for car imports. Update II Interbank liquidity climbed to 5.1 billion rupees […]
Sri Lanka opposition warns on foreign borrowings, exchange rate
Aug 29, 2013 (LBO) – Sri Lanka’s main opposition United National Party has warned on continued foreign borrowings and the current developments in the island’s exchange rate market. Opposition legislator Harsha de Silva said in a statement that banks, including listed NDB and DFCC state banks are being pressured to borrow abroad to ultimately fund […]
‘s Softlogic debentures oversubscribed
Aug 29, 2013 (LBO) – Sri Lanka’s Softlogic Finance said a debenture offer of 500 million rupees was oversubscribed.The bond sale had attracted orders of 527 million rupees from commercial banks, institutions, development banks, institutions and retail buyers. The firm offered bonds paying a fixed rate annually, every six months and monthly. The sale was […]
Sri Lanka to spruce up two cities with World Bank finance
Aug 29, 2013 (LBO) – Sri Lanka will borrow 200 million US dollars from the World Bank to develop two cities, the state information office said. The three year project will boost urban infrastructure in Kandy in central Sri Lanka and Galle in the South. The project will improve traffic and transport and solid waste […]
Sri Lanka Treasuries yields steady
Aug 28, 2013 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction with 9.7 billion rupees in bills being sold to the market, after offering 10 billion rupees, the state debt office said.A central bank that prints money to buy Treasury bills adds demand to the economy, which trigger imports and causes currency […]
‘s rupee hits new low
Aug 28, 2013 (LBO) – Sri Lanka’s rupee hit a new low of near 135.00 to the US dollar in the spot next market Wednesday dealers said, while bond yields rose. The rupee opened at 133.20/30 to the US dollar and weakened rapidly, in mid-morning trade in one of the sharpest single day falls seen […]
Sri Lanka rupee fall temporary aberration: CB Governor
Aug 28, 2013 (LBO) – A sharp fall in Sri Lanka’s rupee was a temporary aberration Central Bank Governor Nivard Cabraal said after the rupee recovered to 133.30 to the dollar after falling as much as 135.00. “We have looked into the matter and it was a very small trade, Governor Cabraal said. “We think […]
Sri Lanka rupee weaker, bonds flat
Aug 27, 2013 (LBO) – Sri Lanka’s rupee weakened below 133 to the US dollar Tuesday and bond were flat amid jitters in international forex markets, dealers said.The rupee weakened to 133.05/10 levels to the US dollar in the spot next market, where settlement is made three days later, weakening from 132.90/133.00 Monday. Exporters were […]
UN-ESCAP boss at South Asia econ summit in Sri Lanka
Aug 27, 2013 (LBO) – Noeleen Heyzer, executive secretary of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) will deliver the keynote address a regional economic forum in Sri Lanka. The 6th South Asia Economic Summit (SAES), will start in Colombo on September 02. The Institute of Policy Studies, a […]
Sri Lanka bond yields steady, money tighter
Aug 26, 2013 (LBO) – Sri Lanka’s bonds opened flat Monday but money markets were tighter after excess liquidity in the interbank market gradually reduced last week, dealers said.Gilt-backed repos were quoted around 8.40/50 percent about and un-backed call money was quoted at 8.70/80 percent about 10/15 basis points higher than last week, dealers said. […]