Category: Money

Apr 24, 2013 (LBO) – Sri Lanka’s rupee steadied at slightly below 127.00 rupees to the US dollar in the spot market helped by selling from a state bank that usually acts for the monetary authority, dealers said. The spot US dollar was quoted around 126.90/127.00 when a state name entered the market with a […]

April 19, 2013 (LBO) – Sri Lanka’s rupee weakened to 125.90/126.00 levels Friday from Thursday’s close of 125.72/78, in a steadily weakening trend, dealers said.Market participants say in recent weeks the authorities have tended to defend the currency only around 127 levels to the US dollars in the spot market. Sri Lanka’s rupee usually gains […]

Apr 03, 2013 (LBO) – Sri Lanka’s foreign reserves had edged marginally lower by 22 million US dollar in January 2013 to 6,855 million US dollars from a month earlier, official data showed.The Central Bank said reserves were equal to 4.4 months of imports. Sri Lanka’s imports fell 21.3 percent in January 2013 from a […]

Mar 21, 2013 (LBO) – Merchant Bank of Sri Lanka, a unit state-run Bank of Ceylon said it had raised 2.0 billion rupees from listed debenture which was oversubscribed on the opening day. “The money raised from the issue will be utilized to increase the lending portfolio and for the settlement of short term borrowings […]

Mar 12, 2013 (LBO) – Sri Lanka rupee was quoted stronger at 125.95/126.00 to the US dollar in late afternoon trade Tuesday in the spot market, up from a closing price of 126.45/55 a day earlier, dealers said.Dealers say some banks were looking to sell dollars in the spot market.Market sources say unwinding of some […]

Mar 11, 2013 (LBO) – Merchant Bank of Sri Lanka, a unit of state-run Bank of Ceylon is offering for sale up to 2.0 billion rupees of 4 and 5-year listed debentures paying between 16.5 to 17.5 percent a year. The Colombo Stock Exchange said it had approved the issue where the MBSL will offer […]

Mar 01, 2013 (LBO) – Standard and Poor’s Ratings Services has confirmed a ‘B+’ sovereign rating for Sri Lanka with a ‘stable’ outlook but warned of a bloated state sector and institutions that lack transparency and independence. “We affirmed the ratings to reflect our view of Sri Lanka’s weak external liquidity, a moderately high and […]

Feb 19, 2013 (LBO) – Sri Lanka’s rupee weakened below 127.00 to the US dollar in the spot market Tuesday following a prolonged period of excess liquidity in money markets, dealers said though authorities have begun to permanently sterilize some excess rupees. The spot US dollar was quoted around 127.00/10 Tuesday though a state name […]

Feb 08, 2013 (LBO) – Sri Lanka’s central bank has issued new regulations covering the money broking industry requiring them to be certified, set up reporting requirements and internal policies and procedures.Money brokers provide bid and offers in money and forex markets while protecting the anonymity of their clients. “The regulations are expected to give […]

Feb 06, 2013 (LBO) – Sri Lanka’s 3-month Treasuries yield dropped 22 basis points to 9.25 percent at Wednesday’s auction but the 12-month yield was flat, data from the state debt office showed. Compared to the auction on the last week of December, the 3-month yield has dropped 75 basis points, the 6-month yield 1.16 […]

Jan 23, 2013 (LBO) – Sri Lanka rupee has weakened over the past two days amid a surge of liquidity in interbank markets, with the spot US dollar quoted at around 126.85/95 in morning trade Wednesday, dealers said. On Tuesday the rupee closed at 126.75/85 to the US dollar down from Monday’s 126.62.66 levels. Excess […]

Jan 18, 2013 (LBO) – Liquidity in Sri Lanka’s money markets has climbed to around 40 billion rupees amid dollar inflows bought by the monetary authority, but two terms auctions were announced Friday to mop up liquidity.Sri Lanka’s central bank creates money through dollar purchases to maintain a de facto peg to the US dollar […]