Category: Money
Sri Lankan rupee weaker on importer dollar demand; stocks down
Nov 22, 2016 (Reuters) – The Sri Lankan rupee was trading weaker on Tuesday due to dollar demand from importers on fears that the U.S. President-elect Donald Trump’s policies would spark higher rates and strengthen the dollar. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next […]
Sri Lankan rupee falls; IMF loan caps losses
Nov 21, 2016 (Reuters) – The Sri Lankan rupee was trading slightly weaker on Monday on worries capital outflows would increase as incoming U.S. President Donald Trump’s policies were seen guiding U.S. interest rates higher and strengthening the dollar. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest […]
Sri Lankan rupee edges down on capital outflow fears
Nov 18, 2016 (Reuters) – The Sri Lankan rupee fell on Friday on persistent worries of capital outflows as incoming President Donald Trump’s policies are seen aiding higher U.S. interest rates and a strong dollar. Rupee forwards were active, with the spot-next trading at 148.70/95 per dollar, compared with Thursday’s close of 148.65/75. “The rupee […]
Sri Lankan rupee falls on capital outflow fears; stocks weaker
Nov 16, 2016 (Reuters) – The Sri Lankan rupee was marginally weaker on Wednesday on fears that higher interest rates in the U.S. under incoming President Donald Trump would spark capital outflows from the domestic market. Expectations that Trump’s administration will cut taxes, increase spending and accelerate inflation have lifted the dollar and driven bond […]
Sri Lanka foreign reserves drop by USD395mn in Oct: Central Bank
Nov 11, 2016 (LBO) – Sri Lanka’s official reserves dropped 394.6 million US dollars to 6.1 billion dollars in October, down from 6.5 billion dollars at the end of September, official Central Bank data showed. Foreign currency reserves were 5.1 billion US dollars and reserves in Gold were 0.91 billion US dollars. Central Bank has […]
Sri Lanka to introduce new law protecting foreign reserves
Nov 11, 2016 (LBO) – Sri Lanka has proposed to introduce a new Foreign Exchange Act to protect foreign reserves from irregular transactions. Finance Minister Ravi Karunanayake told Parliament yesterday that the current Exchange Control Act will be repealed for this purpose. An Investment Inflow Management Act will be introduced to facilitate the inward remittance […]
Sri Lankan rupee weaker as regional currencies drop
Nov 11, 2016 (Reuters) – The Sri Lankan rupee edged down on Friday, in line with a selloff in emerging market currencies, as investors feared higher U.S. interest rates under incoming President Donald Trump will spark capital outflows from those markets. The weakness in the rupee followed Sri Lanka’s budget proposals on Thursday to revise […]
Sri Lankan rupee firmer on exporter dlr sales; stocks edge lower
Nov 04, 2016 (Reuters) – The Sri Lankan rupee edged up on Friday as dollar selling by exporters surpassed the demand for the greenback from importers, dealers said. Rupee forwards were active, with one-week forwards trading at 148.30/40 per dollar at 0604 GMT, compared with Thursday’s close of 148.80/90. “Exporter conversions are exceeding the importer […]
Sri Lankan rupee falls on importer dollar demand; stocks firm
Nov 03, 2016 (Reuters) – The Sri Lankan rupee traded lower on Thursday on dollar demand from importers and as foreign investors sold government securities, dealers said, with the market shrugging off comments by the central bank chief on the stability of the currency. Central Bank of Sri Lanka Governor Indrajit Coomaraswamy said late on […]
Sri Lankan rupee weaker on importer dollar demand
Nov 02, 2016 (Reuters) – The Sri Lankan rupee was weaker on Wednesday due to dollar demand from importers, dealers said, while the market shrugged off central bank chief Indrajit Coomaraswamy’s comment on the currency’s stability in the near future. Coomarswamy late on Tuesday said he expected the rupee to stabilise when the billion sale […]
Sri Lankan rupee ends weaker on importer dollar demand
Nov 01, 2016 (Reuters) – The Sri Lankan rupee ended weaker on Tuesday due to dollar demand from importers, dealers said, a day after the country’s central bank kept key policy rates steady. Despite the rupee being under downward pressure, the central bank kept its benchmark interest rates on hold late on Monday, as expected, […]
Sri Lanka Central Bank keeps rates steady ahead of budget
Oct 31, 2016 (LBO) – Sri Lanka’s central bank on Monday decided to keep its key interest rates steady, a few days ahead of the national budget. Accordingly, the Standing Deposit Facility Rate and the Standing Lending Facility Rate of the Central Bank will be maintained at 7.00 percent and 8.50 percent, respectively. Monetary Policy […]