Category: Money
Sri Lanka gross official reserves at USD7.6bn this week: Central Bank
June 26, 2015 (LBO) – Sri Lanka’s gross official reserves are estimated to have increased to 7.6 billion US dollars as of 22 June 2015, and expected to stabilize at comfortable levels in the coming months, the Central Bank said.Proceeds of the latest international sovereign bond, Sri Lanka development bonds and the currency swap arrangement […]
Central Bank says currency issue valid and reclarifies appointment of Governor
June 24, 2015 (LBO) – Sri Lanka’s Central Bank on Wednesday reclarified the validity of the appointment of the present governor and validity of the currency notes issued by the Bank on 04 February 2015.The press release issued by the Central Bank is reproduced below. VALIDITY OF THE GOVERNOR’S APPOINTMENT AND THE CURRENCY NOTES ISSUED […]
‘s Central Bank to have $1.1bn currency swap extension from India
Apr 23, 2015 (LBO) – Sri Lanka’s Central Bank is to enter into an agreement with India to extend its currency swap facility by 1.1 billion US dollars. The union cabinet chaired by the Indian Prime Minister on Wednesday gave its ex-post-facto approval for entering into an agreement with the Sri Lankan Central Bank for […]
‘s UDA to sell Rs30bn listed debt
Aug 01, 2014 (LBO) – Sri Lanka’s Urban Development Authority is planning to sell up to 30 billion rupees of Treasury guarantee listed debt in three tranches, Chairman Nimal Perera said.The cash will used to build 30,000 houses he said. The sale will be managed by state-run People’s Bank. The agency wants to first sell […]
Sri Lanka gilt dealers invited to trade in listed debt, REPOs in the offing
May 19, 2014 (LBO) – Colombo Stock Exchange has invited Sri Lanka’s primary dealers in government debt and specialists in debt to register at the bourse to trade in listed corporate debt, with a repurchase mechanism on the trading system also planned.CSE chief operating officer Renuke Wijayawardhane said three primary dealers in government securities have […]
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May 19, 2014 (LBO) – Senior debt of Singer Sri Lanka Plc, a consumer durables maker has been downgraded one level to ‘A-(lka)’ by Fitch Ratings on falling profits and margins. Fitch said following value added tax hikes amid stressed economic conditions margins were declining. Singer however was managing its consumer loans portfolio well, and […]
Sri Lanka fixed income fund earns 15.49-pct
Apr 29, 2014 (LBO) – Sri Lanka’s First Capital Asset Management (FCAM) said its fixed income fund returned 15.49 percent net of tax in 2013. The fund invests in Treasuries and corporate debt.The First Capital Wealth Fund, said had 849,223 units. Unit of the First Capital Wealth Fund, had a managers buying price of about […]
Sri Lanka interest rates tighter ahead of dollar inflow
Jan 17, 2014 (LBO) – Sri Lanka’s overnight market rates and medium term bond yields picked up slightly ahead of an expected liquidity flood from a sovereign bond sale, dealers said. A 2-year bond maturing on 01 April 2016 quoted at 7.80/8.00 percent had eased from around 8.00/8.10 percent last week. But a 3-year 01 […]
Sri Lanka foreign reserves at US$7.0bn in September
Dec 15, 2013 (LBO) – Sri Lanka’s foreign reserves eased to 7.0 billion US dollars in September 2013 from 7.5 billion US dollars in August, official data showed. This year Sri Lanka has to repay about 500 million US dollars to the IMF which are made directly out of foreign reserves of the Central Bank. […]
Sri Lanka mortgage lender to sell Rs2bn in debt
Oct 08, 2013 (LBO) – Sri Lanka’s HDFC Bank, a mortgage lender is planning to sell 2.0 billion rupees in secured debt. Fitch has rated the lender ‘BBB(lka)’ rating with a stable outlook. The Colombo Stock Exchange said it had approved the sale of 10 million 100 rupee debentures with an option to sell another […]
Sri Lanka Bank of Ceylon to sell Rs8.0bn in debt
Sept 27, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon is to raise 8.0 billion rupees through subordinated debt, Fitch Ratings said giving a rating of ‘AA(lka)’, one notch below its national rating. The bank will sell debentures up to 10 years with fixed and floating coupons. The full statement is reproduced below Fitch […]
Sri Lanka stocks down, rupee stronger
Sept 23, 2013 (LBO) – Sri Lanka stocks fell 0.54 percent Monday losing some of gains from a surge on Friday the rupee strengthened, brokers and dealers said. Analysts say unsterilized dollar sales will be required to keep the rupee from weakening as the liquidity is turned into import demand through either through state spending […]