Category: Economy and Markets
Sri Lanka forex markets inactive
Apr 26, 2012 (LBO) – There were no deals in Sri Lanka’s forex markets Thursday and quotes have also dried up pending a meeting of bank Treasurers with the Central Bank, market participants said. Monetary policy also loosened in April due to seasonal deficit financing, which has tended to put pressure on the dollar peg […]
‘s Bank of Ceylon US$500mn bond sale opens – Update
Apr 26, 2012 (LBO) – Subscriptions for a 500 million dollar bond by Sri Lanka’s state-run Bank of Ceylon in international markets has opened and is attracting orders, sources familiar with the matter said. . The lender hired Bank of America, Citigroup Inc. and HSBC Holdings to sell the bond after a series of investor […]
Sri Lanka central bank probes forex dealers
Apr 25, 2012 (LBO) – The central bank will take action against dealers who are engaging speculative deals in forex markets without underlying transactions, Central Bank Governor Nivard Cabraal said. “We are now investigating into some speculative deals,” Cabraal said. He said banks are not expected to buy dollars without underlying transactions to back them. […]
Sri Lanka rupee edges lower
Apr 25, 2012 (LBO) – Sri Lanka’s rupee was quoted at a new low of 132.80/133.20 against the US dollar edging down to a new low in mid morning trade Wednesday amid some buying pressure, dealers said. Dealers said trades were seen around 132.80/85 levels, down from 132.20 a day earlier as some exporters held […]
Sri Lanka getting strong inflows, space to support oil bills if needed: CB Governor
Apr 25, 2012 (LBO) – Sri Lanka’s rupee will be supported by inflows which are expected to be sold in the market ending current speculation and the Central Bank has space to provide dollars for oil if needed, Governor Nivard Cabraal said. Governor Cabraal said the Central Bank was ready to supply dollar for oil […]
Sri Lanka Treasuries yields edge up
Apr 25, 2012 (LBO) – Sri Lanka’s Treasuries yields rose 20 basis points across maturities at Wednesday’s auction with the 12 month yield reaching 12. 16 percent, the state debt office said. The 6-month yield also topped 12. 0 percent to reach 12.05 percent and the 3-month yield reached 11. 93 basis points. The debt […]
Sri Lanka state water board makes operational profit
April 24, 2012 (LBO) – State-run National Water Supply and Drainage Board has made a 1.9 billion rupees operational profit with higher revenues and a slight decline in non-revenue distribution. The Central Bank’s annual report said Water Board has given 95,728 new connections in 2011 growing total connections 7. 1 percent to 1.4 million. Revenues […]
Sri Lanka shares end down 0.2-pct
April 24, 2012 (LBO) – Sri Lankan shares closed weaker Tuesday in lacklustre trading with turnover remaining low and interest mainly on low value speculative stocks, brokers said. The main All Share Price Index fell 0.24 percent (13.28 points) to 5,441.78, while the more liquid Milanka index fell 0.35 percent (16.94) to close at 4,888.85. […]
Sri Lanka rupee hits new low
Apr 24, 2012 (LBO) – Sri Lanka’s rupee hit a new low of 132. 20 against the US dollar in the spot market mid-morning trade Tuesday dealers said, as money markets remained liquid and overnight interest rates were below a recently hiked policy rate. The rupee was quoted at 132.10/40 in mid-morning trade after opening […]
Sri Lanka rupee weak, money markets liquid -Update
Apr 23, 2012 (LBO) – Sri Lanka’s currency weakened Monday to above 131 rupees to US dollar after opening at 129.90/130.20 levels against the US dollar in the spot market while money markets were liquid, dealers said. In late afternoon trade the rupee was quoted as low at 131. 50/70 near historic lows, after recovering […]
Sri Lanka shares end down
April 23, 2012 (LBO) – Sri Lankan shares closed lower Monday and turnover fell back to low levels despite some enthusiasm seen last week after regulators lifted price restrictions that triggered a knee-jerk rally, brokers said. Citrus Leisure W0018 warrants were also actively traded, ending at 2.10 rupees, down 1.70 while Environmental Resources Investments close […]
Sri Lanka bank credit fall from peak in February
Apr 23, 2012 (LBO) – Sri Lanka’s commercial banks loaned 55.3 billion rupees to private business in February 2012 higher than in January and state credit also remained strong but eased from records volumes a month earlier, official data showed. The data also contains the effects of currency depreciation after authorities allowed the rupee to […]