Category: Money

Finance Minister K N Choksy told parliament that the bonds will be issued in both rupee and US dollar denominations. rnrnDollar denominated bonds will be limited to non-resident Sri Lankans, while the local investors will be able to invest in the rupee bond with tax-exemptions on interest. rnrnChoksy estimated total government borrowing budgeted for 2002 […]

The Central Bank revised its short term discount rate today by raising the reverse repurchase rate (reverse repo) to 13.6 percent, from 13.5 percent.

The rupee wobbled sharply against the US dollar, following Central Bank quote s decision to cut its key short-term rates by 50 basis points this morning.

The Central Bank estimates state revenue at Rs.275 bn, while total debt servicing stands at Rs.300 bn, the bank quote s Superintendent Public Debt, Dharma Dheerasinghe told Lanka Business Online. rnrnHe said the bank is looking at introducing interest rate swaps, inflation linked bonds and short-term borrowings to tide through the crisis. rnrnPresently, interest payments […]

Ajantha Madurapperum also called for proactive measures to prevent a liquidity shortfall in the festive month of April. rnrnThe Central Bank cut its discount rates last October, when both repo and reverse repo was reduced by 1 percent to 12 percent and 14 percent, respectively. rnrnMadurapperuma said that factors that traditionally governed the domestic interest […]

The company plans to use the funds to help finance its two power projects in Matara and Horana. rnThe group will issue Rs. 200 mn worth of two-year unsubordinated, unsecured and redeemable debentures with interest payable semi annually.A further Rs. 200 mn worth of four-year debentures with interest payable either annually or semi annually will […]

The bank said it offered and accepted bids for Rs.5.569 bn. rnrnThree-month notes slipped six basis points to 12.66 percent, six month treasuries dropped eight basis points to 12.91 percent and one year notes dropped lost seven basis points to 13.54 percent. rnrnThe bank said the three (Rs. 2.654 bn) and six (Rs. 418 mn) […]

The bank said it offered and accepted bids for Rs.500 mn. rnrnThe weighted average yield dropped to 13.73 percent from 14.94 percent recorded in the previous auction. rnrnToday quote s two-year bond, which carried a coupon rate of 12.50 percent, is part of Rs. 2.000 bn scheduled to be issued during the months of February […]

The repo-rate or the repurchase rate is the key benchmark, which sets the floor in the overnight call money market, as it enables lenders to invest excess funds in treasury bills and bonds held by the Central Bank (i.e. at near zero risk). It is also the Central Bank quote s main instrument of signalling […]

The bank has amended the existing legislations and created separate categories for commercial banks and non-commercial banks. rnrnThe new guidelines which came into effect from February 1, requires new dealers to set aside minimum Rs. 150 mn in capital. rnrnCommercial banks have to maintain the capital in a separate fund known as Primary Dealer Special […]

The Central Bank plans to expand the number of primary dealers dealing exclusively in government debt.rn rnNewcomers will be on par with existing primary dealers, having exclusive access to bid at the primary auctions. rnrnNew players have to set aside a minimum capital of Rs. 150 mn and have competent dealers, Central Bank Governor, A […]

Treasury bonds continued to slide at this week quote s auction with three-year notes shedding three basis points to 14.30 percent, the Central Bank said.