Category: Money

June 03, 2010 (LBO) – The Sri Lankan government is to remove taxes totaling up to 22 percent on import of foreign currency notes in an effort to curb black market trade, a senior minister said. “With these taxes removed, they (black market) will find it hard to compete with government approved institutions,” Rambukwella said […]

TOKYO, May 17, 2010 (AFP) – The euro slid to its lowest level since October 2008 in volatile Tokyo trade Monday as persistent fears over eurozone debt continued to pressure the single currency. The euro fell to as low as 1.2332 dollars in Tokyo trade from 1. 2358 in New York Friday, before recovering to […]

Apr 12, 2010 (LBO) – Sri Lanka’s Treasury bills yields were flat at Monday’s auction, held early ahead of a two-day holiday for a traditional New Year, following a fully rejected auction a week earlier. The government’s debt office said 3-month bills were sold at 8. 52 percent, 6-month bills at 9.24 percent and 12-month […]

Apr 05, 2010 (LBO) – Sri Lanka will issue a new ten rupee coin from April 05, to replace a note of a similar denomination now in circulation, the Central Bank said Monday. The nickel plated coin has a diameter of 26. 4 millimetres. The obverse has the armorial ensign of Sri Lanka with a […]

Mar 31, 2010 (LBO) – Foreign exchange premiums in Sri Lanka’s kerb or black market have widened in recent months to about three rupees above the bank currency rate from below the rate a few years ago. A US dollar note is being sold in the kerb market for around 117.25/50 rupees compared to a […]

Mar 30, 2010 (LBO) – Sri Lanka short term Treasuries edged up slightly Wednesday but signs of further quantity easing emerged with only a part of a maturing tranche of bills being sold to real buyers. Three month bills edged up 7 basis points to 8.52 percent and the 6-month yield went up 05 basis […]

Mar 25, 2010 (LBO) – Sri Lanka’s Employees’ Provident Fund gave members a real rate of interest of 10.01 percent in 2009 with annual average inflation falling to 3.4 per cent, the Central Bank said. It said in a statement the fund, which it manages, has declared the highest-ever rate of interest of 13.75 per […]

Mar 24, 2010 (LBO) – Holding large foreign exchange reserves could actually be a burden for Sri Lanka’s government and deny funds from badly needed infrastructure and health care, a senior corporate executive has said. Sanjoy Ray, Finance Director of Finlays Colombo said that while foreign exchange reserves could act as a buffer against emergencies, […]

Feb 11, 2010 (LBO) – Sri Lanka has rejected all bids at the Treasuries auction Wednesday which offered to roll over 10. 5 billion rupees of maturing, bills the government’s debt office said. The central bank also mopped up 3. 6 billion rupees through a central bank securities auction where 10 billion was originally released. […]

Mar 11, 2010 (LBO) – Sri Lanka rupee strengthened to 114.0 to the greenback with the spot dollar quoted at 113. 95/114.05 with banks unwilling to hold dollars with high short term rupee interest rates, and the central bank staying in the sidelines, dealers said. On Wednesday the central bank rejected bids for an entire […]

Mar 05, 2010 (LBO) – Sri Lanka’s foreign commercial debt has risen dramatically in 2009 as lender confidence increased after a deal with the International Monetary Fund and the fiscal deficit expanded, official data shows. Sri Lanka’s total commercial debt, including defence loans accrued during a war with Tamil Tigers which ended in May 2009, […]

Feb 28, 2010 (LBO) – A Sri Lankan saltern is planning to raise 200 million rupees from a public offering of equity to expand its capacity and build a new salt refinery, media reports said. Raigam Wayamaba Salterns Limited, was hoping to sell 80 million shares at 2.50 rupees by offering a 28.35 percent stake […]