Category: Money
Central Bank directs banks to reduce loan ratio on motor vehicles
Sept 15, 2015 (LBO) – Sri Lanka’s Central Bank has issued a directive to commercial banks, speciaized banks and financial institutions to reduce the loan to value (LTV) ratio to 70 percent in respect of loans granted for purchases or utilisation of motor vehicles. “The Central Bank of Sri Lanka has observed with concern the […]
Sri Lanka to receive USD1.1 bn under RBI swap arrangement: Central Bank Governor
Sept 03, 2015 (LBO) – Sri Lanka will receive the balance 1.1 billion dollars from the Reserve Bank of India to boost foreign reserves under a 1.5 billion dollar swap arrangement, the Central Bank Governor Arjuna Mahendran confirmed to Lanka Business Online. On April 30th, Sri Lanka obtained 400 million dollars under this arrangement, which […]
Sri Lanka key interest rates held unchanged in monetary policy review
Aug 31, 2015 (LBO) – Sri Lanka’s Monetary Board held key interest rates unchanged on Monday citing low inflation, steady foreign remittances and earnings from tourism. Dollar inflows expected to bolster foreign reserves contributed to the decision, the monetary authority said. The Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of […]
Debt Report: Money market keeps close eye on CB T-bill holdings, interest rates pick up
Aug 27, 2015 (LBO) – Sri Lanka money markets kept a close eye on treasury bill purchases by Sri Lanka’s central bank this week, as interest rates rose amid turbulence in global markets.The central bank’s holding of treasury bills increased to 92.4 billion rupees on Monday from around 69 billion earlier this month, which is […]
Some China researchers see yuan at 7 by year end: report
25, Aug 2015 (LBO) – Some research institutions in China are working on the assumption of the yuan weakening to 7 to the dollar by year end from the current 6.4135, a report said. Though these studies done by institutions in China have not yet been made public, they indicate analyst predictions of an eight […]
Asia Capital Q1 loss lower at Rs92 million
Aug 21, 2015 (LBO) – Sri Lanka’s financial services firm Asia Capital PLC reported a loss of 92 million rupees for the first quarter to June, down from a loss of 120 million rupees in the same quarter last year, in interim results released to the Colombo Stock Exchange.Annual revenue rose to 1.6 billion rupees […]
‘s outstanding public debt stands at Rs7.9 trillion
July 30, 2015 (LBO) – Sri Lanka’s total outstanding public debt including debt taken by state enterprises was 7,959,939 million rupees as at the beginning of the month of July 2015, cabinet spokesman Rajitha Senaratne said.Treasury Bonds stands at 3,629,903 million rupees where as treasury bills was 796,031 million rupees.Domestic debt was 5,313,713 million rupees […]
Fed keeps key interest rates unchanged after policy meeting
July 30, 2015 (LBO) – The United States Federal Reserve on Wednesday stayed quiet on key rate hike saying economic conditions warrant keeping the target federal funds rate below levels the Fed views as normal in the longer run. “The Committee anticipates that it will be appropriate to raise the target range for the federal […]
Fitch Ratings to host Sri Lanka investment fund and asset management forum
July 10, 2015 (LBO) – Fitch will host an investment fund and asset management forum in Sri Lanka in September, the rating agency said in a statement. “Leading market participants, including issuers, investors, and bankers, will discuss developments in the asset management industry globally both in terms of asset classes and regulatory developments,” the statement […]
Sri Lanka government foreign borrowings at Rs137bn; Rs316bn to borrow
July 06, 2015 (LBO) – Sri Lanka’s government has already borrowed 137 billion rupees and plans to borrow another 316 billion rupees before the end of this year, Dr.Harsha de Silva said. As per the revised budget approved by the Parliament this year, 258 billion rupees is to be raised through foreign borrowings and another […]
Sri Lanka gross borrowings down 22.5-pct from Jan to Apr 2015
July 03, 2015 (LBO) – Sri Lanka’s government debt operations indicated total gross borrowing as 569.8 billion rupees during the first four months of this year, down 22.5 percent from the same period last year. Out of the total, 530.6 billion rupees was domestic borrowings and balance 39.2 billion rupees was the foreign borrowings, 2015 […]
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 […]