Opinion: Repay foreign debt or finance essential imports
By Chair of our Academic Programme and former Economic Adviser at the World Bank, Dr. Sarath Rajapatirana, and our Senior Research Fellow, and former Director …
Forex
Reduction of gold holdings part of reserve management, clarifies Central Bank
Sri Lanka’s Central Bank says that the changes in the composition of official reserves are in accordance with the current reserve management needs and …
Gold reserves down by 54-pct in December; USD 3.1bn reserves include Chinese swap: CBSL
Sri Lanka’s official reserve assets were 3.1 billion US dollars (USD 3,137.6 mn) by the end of December, up from 1.6 billion US dollars in November, the …
Opinion: Government heavy-handedness to blame for our currency woes
By Vinuja Singharachchige: Much is being said nowadays about the pressures the Sri Lankan Rupee is facing, but it is important that we understand the mechanics …
Central Bank revises maximum interest rates on foreign currency deposits
The Monetary Board has issued an order on maximum interest rates to be paid in respect of foreign currency deposit products of licensed commercial banks and …
Sri Lanka’s official reserves position has reached around USD 3.1bn: Central Bank
Sri Lanka’s Central Bank says that with the receipt of recent inflows, the official reserves position has now reached around US dollars 3.1 billion, and …
Sri Lanka expects USD 2bn SWAP facilities from Middle Eastern & other regional central banks
The Central Bank says that the measures being taken at present will ensure that by end of 2021 official reserves will remain above US dollars 3 billion. …
Joint Chambers express concern on impact of currency shortage; request to engage with IMF
Statement issued by the following Institutions: We wish to draw the attention of the Government to the difficulties faced by our member companies and the …
Central Bank initiates regulatory actions against errant Money Changers
In response to several complaints that certain Authorized Money Changers are engaged in activities which are not in compliance with the Directions issued under …
Sri Lanka official reserves down to USD 1.6bn in November, confirms Central Bank
Sri Lanka’s official reserve assets were 1.6 billion US dollars (USD 1,587.0mn) by the end of November, down from 2.3 billion US dollars in October, the …
Rs.10 per dollar incentive for inward workers’ remittances converted into rupees: CBSL
The Monetary Board of the Central Bank has decided to pay an incentive of Rs. 8.00 per US dollar for workers’ remittances, in addition to the existing …
“Dark future looming as foreign reserve drop to USD 1.5Bn, lowest in history” Eran
The opposition alleged in Parliament that foreign reserves have dropped to US 1.5 billion dollars which included the gold reserves of US 300 million dollars. …
CBSL expects reserves to remain around USD 3.5bn by end 2021; USD 4bn on average in 2022
Sri Lanka’s Central Bank expects gross official reserves to remain at around USD 3.5 bn at the end of 2021, and around USD 4.0 bn on average in 2022. …
Sri Lanka to introduce incentive package for migrant workers with various benefits
Sri Lanka to introduce an incentive package for migrant workers, which includes pension/superannuation benefits, accident/life insurance benefits, banking …
New rules to convert export proceeds have no impact on Sri Lankans working abroad: CBSL
Sri Lanka’s Central Bank emphasizes that inward remittances by Sri Lankan expatriates, which are not considered as services exports, will not be …
Sri Lanka’s reserves down to USD 2.3bn in October; YTD rupee depreciation 8-pct
Sri Lanka’s official reserves were 2.3 billion US dollars (USD 2,267.5mn) by the end of October, down from 2.6 billion US dollars in September, the latest …
CBSL creates new department to facilitate & streamline workers’ remittances
Sri Lanka’s Central Bank has established a new department named “Foreign Remittances Facilitation Department” (FRFD) to facilitate and …
Sri Lanka’s reserves down to USD 2.6bn in September; YTD rupee depreciation 8.2-pct
Sri Lanka’s official reserves were 2.6 billion US dollars (USD 2,581.3mn) by the end of September, down from 3.5 billion US dollars in August, the latest …
Central Bank requests Govt to tax export profits at 28-pct where forex is not repatriated & converted
Sri Lanka’s Central Bank requests the government to tax profits of exporters at 28 percent and not 14 percent where forex is not repatriated & …
Central Bank recommends complete repatriation of export proceeds within reasonable period
Steps must be taken to strengthen the systems to ensure monitoring and to implement measures that lead to the complete repatriation and conversion of export …