Category: Money

Feb 24, 2010 (LBO) – Sri Lanka’s three, six and 12 month Treasury bill yields edged up at Wednesday’s auction, the government’s debt office said. This was higher than the 12.5 billion rupees of maturing bills. The 3-month yield edged up 09 basis points to 8. 26 percent, the 6-month yield was up 06 basis […]

Feb 24, 2010 (LBO) – Sri Lanka will hold a 10 percent limit of foreign holdings of rupee Treasuries for the time being, Central Bank Governor Nivard Cabraal said, despite a widening fiscal deficit putting pressure on financial markets. Foreign investors were allowed to buy into bonds to the tune of about 30 million US […]

Feb 16, 2010 (LBO) – Sri Lanka foreign reserves eased to 5,067 million US dollars in December 2009, from 5,228 million US dollar in November which was equal to about 6. 2 months of imports, the Central Bank said. From October the central bank started injecting domestic liquidity which halted the foreign reserves collection process. […]

Feb 10, 2010 (LBO) – Sri Lanka’s central bank has become a net seller in foreign exchange markets as monetization of the government’s cash deficit has increased amid private credit expansion, the latest data shows. The currency was later re-pegged at around 114. 50 to the US dollar with the help of liquidity withdrawals. Sri […]

Feb 02, 2010 (LBO) – Sri Lanka is open to increasing the ratio of cash banks must deposit with the Central Bank as a policy to contain inflation, Governor Nivard Cabraal said, as consumer inflation accelerated to an eleventh month high in January. Sri Lanka’s market risk free rates have already started to move up […]

Jan 20, 2010 (LBO) – Sri Lanka’s foreign reserves reached 5,228 million US dollars by end November 2009, which was equal to 6.4 months of imports, the Central Bank said. In 2009 the trade deficit was 2,468.5 million US dollars and remittances were 567 million US dollars higher. With the balances of the Asian Clearing […]

Jan 15, 2010 (LBO) – Sri Lanka’s RAM Ratings unit said two new directors, Preethi Jayawardena and Liza Mohn Noor have been appointed to its board from January 2010. Jayawardena is a Fellow of the Institute of Chartered Accountants of Sri Lanka, is managing director of Chemanex Plc. , a listed firm, a member of […]

Jan 12, 2010 (LBO) – Sri Lanka listed Nation Lanka Finance Limited said it had sold its money broking unit, CSF Money Brokering Company, to unlisted Navara Capital for 9.24 million rupees. Nation Lanka Finance had sold 85.71 percent of the money broker, the firm said in a stock exchange filing. The statement said Navara […]

Dec 31, 2009 (LBO) – Sri Lanka’s central bank has defended a controversial 1,000 rupee note bearing the image of president Mahinda Rajapaksa, ahead of presidential polls, which had come under fire from the opposition and other critics. Critics had slammed the note as an ‘election handbill’, and that a group of soldiers at the […]

Dec 23, 2009 (LBO) – Sri Lanka’s foreign reserves were steady at 5.2 billion US dollars by December 18, boosted by foreign inflows into debt markets and International Monetary Fund loans, the Central Bank said. But lately the Central Bank’s bill stock has started climbing and foreign reserve increases are also now tapering off. In […]

KUWAIT CITY, November 28, 2009 (AFP) – Gulf banks, already reeling under defaults by two major Saudi groups and Kuwaiti investment firms, are bracing for more serious trouble with the unfolding Dubai debt crisis, analysts said on Saturday.The banks, which have already made huge provisions against other exposure, will be forced to make even more […]

Nov 27, 2009 (LBO) – The Sri Lanka rupee started trading in a band Friday after a state bank that usually acts for the monetary authority quoted a wide two way price, dealers said. Many high inflation countries which are prone to macro-economic instability and balance of payments crisis, have experimented with soft pegs of […]