Category: Money

May 21, 2012 (LBO) – Sri Lanka is among the South Asian countries, who will benefit from a 2. 0 billion dollar currency swap arrangement set up by India, a statement said. Funded entirely by India, the swap facility will enable the central banks of Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka to […]

May 04, 2012 (LBO) – Sri Lanka’s overnight interest rate hovered nearer to a recently hiked policy rates Friday amid tighter liquidity, supporting its exchange rate and bond yields spiked, a day earlier, dealers said. A 2-year bond maturing on March 01, 2014 rose was quote around 12.75.13.00 percent. A 4-year bond maturing on August […]

May 02, 2012 (LBO) – Sri Lanka’s rupee went on a wild ride Wednesday in thin trade in a market where there is little depth and uncertainty is high among dealers, market participants said. The rupee eventually closed around 127.70/128.50 The rupee traded as low as 131.00 to the US dollar and strengthened as much […]

May 01, 2012 (LBO) – Sri Lanka’s Treasury has repaid most of the money borrowed from the banking system including printed money from the Central Bank to meet seasonal salary needs of state workers, a top official said. “Instead of Treasury bonds and long term securities there has been a preference for to less than […]

Apr 25, 2012 (LBO) – Sri Lanka’s rupee was quoted at a new low of 132.80/133.20 against the US dollar edging down to a new low in mid morning trade Wednesday amid some buying pressure, dealers said. Dealers said trades were seen around 132.80/85 levels, down from 132.20 a day earlier as some exporters held […]

Apr 24, 2012 (LBO) – Sri Lanka’s rupee hit a new low of 132. 20 against the US dollar in the spot market mid-morning trade Tuesday dealers said, as money markets remained liquid and overnight interest rates were below a recently hiked policy rate. The rupee was quoted at 132.10/40 in mid-morning trade after opening […]

Apr 23, 2012 (LBO) – Sri Lanka’s currency weakened Monday to above 131 rupees to US dollar after opening at 129.90/130.20 levels against the US dollar in the spot market while money markets were liquid, dealers said. In late afternoon trade the rupee was quoted as low at 131. 50/70 near historic lows, after recovering […]

April 19, 2012 (LBO) – Sri Lanka’s listed Commercial Bank of Ceylon, the island’s largest privately owned bank, said there were no takers for a five-year bond offered at a fixed rate, as interest rates rose sharply. The five-year debt, rated AA- by Fitch Ratings Lanka opened for subscription on March 27 offering a fixed […]

Apr 12, 2012 (LBO) – Sri Lanka’s rupee dipped close to 130 to the US dollar after opening around 127. 80/128.20 in the spot market, amid buying from foreign banks, dealers said. . The rupee was quoted as low as 129.50/130.00 in late morning trade but gained later with demand falling off, dealers said. Sri […]

Apr 05, 2012 (LBO) – Liquidity tightened in Sri Lanka’s money markets Thursday a day after bond yields spiked amid some foreign selling a day earlier ahead with a monetary policy announcement due later in the day. Call money was quoted as 9.25/50 percent at opening percent and gilt-backed repos were quoted 8. 25/45 dealers […]

Mar 29, 2012 (LBO) – Sri Lanka’s rupee gained against the greenback Thursday to strengthening to as much as 128. 25/50 rupees after opening at 129. 30/40 levels, dealers said. The rupee also closed stronger Wednesday, at 129. 30/40 levels after opening weaker at 129. 80/130.00 rupees against the US dollar. Sri Lanka has upped […]

Mar 29, 2012 (LBO) – Sri Lanka’s rupee closed at 127. 75/85 against the US dollar after opening at 129.30/40 dealers said, with data indicating that a credit bubble which put pressure on the peg is breaking. Rupee liquidity from dollar purchases has risen from 6.7 billion rupees on March 14 to 26 billion rupees […]