Category: Money
Central Bank invites proposals for USD1bn 3-year foreign financing facility
Dec 28, 2016 (LBO) – Sri Lanka’s Central Bank today said the government intends to raise a Foreign Currency Term Financing Facility (FTFF) denominated in USD up to a limit of 1 billion dollars in 2017. The FTFF is expected to be raised at a fixed rate or a floating rate, linked to the USD […]
Sri Lanka Central Bank most likely to keep rates steady: POLL
Dec 28, 2016 (Reuters) – Sri Lanka’s central bank is most likely to keep its key interest rates steady on Friday, even as some economists expect further tightening to ease pressure on the rupee following the Fed rate hike earlier in the month, a Reuters polls showed. The central bank has already tightened its monetary […]
Sri Lankan rupee falls on dollar demand; c.bank raises spot reference rate
Dec 28, 2016 (Reuters) – Sri Lankan rupee fell on Wednesday on modest dollar demand after the central bank raised the spot reference rate, while the apex bank’s new limit on one-week forwards capped further loss, dealers said. The market, however, awaited further clues from the central bank after it said on Friday that depreciation […]
Sri Lankan rupee falls on light dollar demand
Dec 27, 2016 (Reuters) – The Sri Lankan rupee fell on Tuesday on thin importer dollar demand after a long weekend as the market waited for direction from the central bank after it said depreciation of the currency was not necessarily negative for the economy, dealers said. The central bank said on Friday that “it […]
Sri Lankan rupee ends firmer on dollar selling by state bank
Dec 23, 2016 (Reuters) – The Sri Lankan rupee closed higher on Friday as dollar selling by a state-run bank helped the local currency gain in lacklustre trading ahead of a long weekend, amid little demand from importers for the U.S. currency, dealers said. Rupee forwards were active, with one-week forwards closing at 149.75/90 per […]
Sri Lankan rupee falls on importer dollar demand
Dec 22, 2016 (Reuters) – The Sri Lankan rupee fell on Thursday as importer demand for the greenback outpaced inflows from remittances and dollar conversions by exporters, dealers said. Also, weighing on sentiment were dollar purchases by state-controlled banks, they added. The rupee forwards were active, with one-week forwards trading at 150.95/151.00 per dollar, compared […]
Sri Lanka Finance Minister Ravi Karunanayake sees stable rupee in 2017
Dec 20, 2016 (Reuters) – Sri Lankan Finance Minister Ravi Karunanayake said on Tuesday the rupee currency, which is under downward pressure, will recover and be steady next year with expected foreign inflows. The rupee, which has fallen 3 percent this year after a nearly 10 percent loss in 2015, is under pressure because of […]
Sri Lankan rupee closes steady; state-controlled bank sells dollars
Dec 16, 2016 (Reuters) – The Sri Lankan rupee came off early falls to close almost steady on Friday as a state-controlled bank sold dollars, dealers said. The rupee is still under pressure as banks bought the greenback after the central bank raised the spot reference rate on Thursday and the U.S. Federal Reserve on […]
Sri Lankan rupee eases on importer dollar demand; stx up
Dec 01, 2016 (Reuters) – The Sri Lankan rupee eased slightly on Thursday due to importer dollar demand in dull trade on fears that economic policies of U.S. President-elect Donald Trump may lead to a rise in the greenback and trigger foreign fund outflows. Dealers see the rupee being under pressure till seasonal inward remittances […]
Sri Lankan rupee edges up on exporter dollar sales; stx up
Nov 30, 2016 (Reuters) – The Sri Lankan rupee was trading slightly higher on Wednesday, as exporter dollar sales surpassed importer demand for the greenback after the central bank said it was in advance talks with China Development Bank for a $200 million swap. However, dealers expect the rupee to be under pressure till seasonal […]
Sri Lankan rupee steady as exporter dollar sales offset importer demand
Nov 24, 2016 (Reuters) – The Sri Lankan rupee was steady on Thursday as dollar selling by exporters offset demand for the U.S. currency by importers who fear the economic policies of U.S. President-elect Donald Trump would lead to a rise in the dollar and interest rates. Dealers said foreign investors might pull out of […]
Sri Lankan rupee edges down on importer dollar demand; stocks up
Nov 23, 2016 (Reuters) – The Sri Lankan rupee fell slightly on Wednesday due to dollar demand from importers on fears that U.S. President-elect Donald Trump’s policies would lead to a rise in rates and the greenback. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next […]