Category: Money

Jan 07, 2009 (LBO) – Sri Lanka has appointed five domestic banks and a primary dealer of government securities as lead managers to sell gilts to expatriate citizens, the Central Bank said in a statement. The six lead managers are Bank of Ceylon, Commercial Bank, National Savings Bank, NatWealth Securities Ltd., People’s Bank and Sampath […]

Jan 06, 2009 (LBO) – Sri Lanka’s is negotiating with foreign central banks to establish swap arrangements to increase its access to foreign currency, central bank governor Nivard Cabraal said. The Central Bank said it was looking for alternative ways of raising external finance after hedge fund money that came into the Treasuries market left […]

Jan 05, 2009 (LBO) – The Sri Lanka rupee was quoted at a low of 114.05/25 against the greenback in intra-day trading Monday before recovering on dollar sales by a state bank that usually represents the Central Bank, dealers said.Banks parked 12.8 billion rupees at the central bank through an open market auction at an […]

Jan 03, 2009 (LBO) – Sri Lanka will give incentives to expatriate citizens to bring their saving home in the form of higher interest rates and lower taxes, Central Bank Governor Nivard Cabraal said.But a severe crash crunch in the government has led to a new surge of money printing in December, adding more pressure […]

Jan 02, 2008 (LBO) – The Sri Lankan rupee lost ground Friday and closed the first week of 2009 at 113.90/114.00 against the greenback, dealers said. The rupee opened the day at 113.10/20 to the dollar. Dealers said a large import bill was settled through state bank. They said the market largely ignored news of […]

Jan 01, 2009 (LBO) – The Sri Lankan rupee closed the first trading day of the new year at 113.10/20 to the dollar in an inactive market, brokers said Thursday. The rupee opened the day at 112.90 to the dollar. The rupee fell dipped towards 113.80 levels earlier in the week but gained after the […]

Dec 30, 2008 9LBO) – The Sri Lanka rupee rose to 112.90/113.00 levels after the Central Bank cut overnight trading positions of banks, dealers said.The spot dollar opened around 113.60/80 levels Tuesday. The rupee edged towards 113.80/114.00 levels Monday. Overnight rates in the inter bank market was around 13.00/13.50 with excess liquidity at most banks, […]

Dec 29, 2008 (LBO) – The Sri Lanka stocks opened flat Monday with trading in Seylan Bank shares halted pending an official announcement regarding a possible exit by the Ceylinco group, while the spot dollar was quoted at 112.95/113.15, dealers said. Money markets were liquid with call rates at 13.00/13.50 percent. The Colombo All Share […]

Dec 29, 2008 (LBO) – The Sri Lanka rupee dipped to a low of 113.80 against the greenback in spot trade Monday as it continued to adjust amidst excess liquidity in the inter bank market, dealers said. In late trading, the rupee steadied at 113.65/113.80 after opening at 112.95/113.15 levels. Authorities announced a repo auction […]

Dec 23, 2008 (LBO) – Sri Lanka rupee weakened towards 112.80/90 against the US dollar, with state banks on the buying side, dealers said Tuesday, as inter bank rupee markets remained liquid.Analysts say excess liquidity amid dollar tightness is usually a sign that the government is in a cash crunch. The latest official data shows […]

Dec 16, 2008 (LBO) – The Sri Lanka rupee eased towards 111.90/112.05 against the US dollar, dealers said, with the central bank showing signs of easing off on an ill-fated sterilized intervention campaign that cost the country a third of its foreign reserves. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ […]

Dec 15, 2008 (LBO) – The Sri Lanka rupee traded around 111.45/55 levels after dipping lower to 111.50/60 Monday, while overnight rates edged lower on excess liquidity, dealers said. The rupee closed at 111.30/45 levels Thursday with no intervention and there was no intervention in early trading Monday, dealers said. Overnight call rate rates dropped […]