Category: Economy and Markets
Sri Lanka shares end up 0.3-pct
Feb 15, 2012 (LBO) – Sri Lankan shares ended firmer Wednesday after a nine-day slide, brokers said. Environmental Resources Investments was the most actively traded stock, closing at 15.40 rupees, up 30 cents. HVA Foods was also actively traded, closing at 17.70 rupees, up 80 cents. Panasian Power ended at 2.70, up 20 cents. The […]
Sri Lanka Treasuries yields up; rupee steadier
Feb 14, 2012 (LBO) – Sri Lanka’s Treasuries yields rose edged up 07 to 18 basis points at Wednesday’s auction and the rupee recovered from record lows in the spot dollar market helped by forex sales by state banks. The debt office, which is a unit of the Central Bank said 3-month yields rose 07 […]
Sri Lanka rupee drifts lower
Feb 15, 2012 (LBO) – Sri Lanka rupee opened weaker at 120.30/35 against the greenback in the spot dollar market and drifted lower as the foreign exchange market continued to look for direction but stocks opened stronger. Colombo All Share Index rose 1.6 percent in the first half hour of trading. In forex markets trades […]
Sri Lanka rupee depreciation temporary: Central Bank
Feb 15, 2012 (LBO) – A sharp depreciation of the rupee following a float of the currency was temporary and an overshooting which will correct as policy actions take effect, the Central Bank said. ‘[T]he recent depreciation of the Sri Lanka Rupee, which seems to be a reaction of forex dealers adjusting to the more […]
Sri Lanka policy reversals seen eroding sentiment
Feb 14, 2012 (LBO) – Recent policy reversals by Sri Lanka’s government has dampened investor sentiment and could lead to lower consumer spending, slowing economic growth, a stock broker said. The government raised interest rates, moved closer to floating the rupee by stopping interventions to defend the currency and jacked up fuel prices in quick […]
Sri Lanka rupee opens weaker, bonds yields higher
Feb 14, 2012 (LBO) – Sri Lanka rupee opened weaker around 117.50/80 in the spot market against the US dollar and drifted lower Tuesday dealers said, as the state took corrective measures to cut further borrowings by state energy utilities. The rupee was weakened to around 118. 50/80 to the US dollar in the third […]
”, fundamentals strong: CB Governor
Feb 14, 2012 (LBO) – A steady weakening of the rupee following a float was an ‘overreaction’ which will correct itself when market fundamentals begin to act, Central Bank Governor Nivard Cabraal said. “We have a clear policy that we will intervene only in the case of oil bills,” Governor Cabraal said calmly. “I see […]
Sri Lanka shares end down 3.4-pct
Feb 14, 2012 (LBO) – Sri Lankan shares plunged again Tuesday with the main All Share Price Index crashing below 5,000 points in a widespread sell-off before recovering somewhat, brokers said. The main All Share Price Index closed down 3.35 percent (173.94 points) at 5,026.04, while the more liquid Milanka index fell 3.33 percent (150.49 […]
Sri Lanka tighter money to keep inflation low: CB Governor
Feb 13, 2012 (LBO) – Sri Lanka has tightened monetary policy and imposed a credit ceiling not only to counter balance of payments pressure but also to keep the island’s inflation low, Central Bank Governor Nivard Cabraal said. The central bank then sold dollars, initially mopping up excess liquidity and tightening the monetary system, but […]
Sri Lanka bond auction yields below market
Feb 13, 2012 (LBO) – Sri Lanka has sold three and five year bonds through an auction Monday at rates below the secondary market, data from the state debt office showed. The debt office which is a unit of the Central Bank said it sold 3. 0 billion rupees of bond maturing on 15 June […]
Sri Lanka rupee opens weaker
Feb 13, 2012 (LBO) – Sri Lanka rupee opened weaker at around 115. 30/40 and traded lower against the US dollar in the spot market in the second trading day after the Central Bank withdrew from interventions, dealers said. On Thursday the rupee closed around 115. 20/30 against the dollars. On Monday the rupee opened […]
Sri Lanka rupee drifts lower against greenback
Feb 13, 2012 (LBO) – Sri Lanka’s rupee closed at 117. 25/40 against the greenback Monday down from Friday’s close of 115. 20/30 in a second day of trading without Central Bank intervention, dealers said. The rupee drifted lower in intra-day trading but recovered towards the end of the day. Dealers said some exporters had […]