Category: Money

June 13, 2008 (LBO) – Sri Lanka has raised 150 million US dollars from a loan put together by Standard Chartered Bank at 250 basis points above the London Interbank Offered Rate (LIBOR), the government’s debt office said. At a current 6-month LIBOR rate of 3.13 percent the loan costs 5.69 percent a year with […]

May 21, 2008 (LBO) – Sri Lanka Treasuries yields plunged for the third week running with the benchmark 3-month yield falling 41 basis points to 17.14 percent, the government’s debt office said. Corrected 6-month yield The government sold 4.0 billion out of 10.5 billion rupees of maturing bills, the debt office, which is a unit […]

April 29, 2008 (LBO) – Sri Lanka’s top business chamber is hosting a forum to provide deeper understanding of exchange rate and interest rate hedging amidst high volatility seen in recent years.“Sri Lanka has been experiencing chronic high interest rates and frequent exchange rate fluctuations and this has become a hotly debated topic in both […]

April 29, 2008 (LBO) — Sri Lanka’s benchmark 3-month Treasury bills fell 16 basis points to 18.51 percent, with the government re-selling 9 billion out of 11 billion rupees of maturing bills, the public debt office said.The public debt office, which is a unit of the country’s central bank, said the remaining bills were retired. […]

Mar 24, 2008 (LBO) – Premiums above benchmark rates for dollar loans in Sri Lanka’s interbank markets have rocketed as a global credit crunch made the US currency dearer and local demand was boosted by an active swap market, bankers said.. “Banks were borrowing in the interbank market at around 15 basis points above the […]

Mar 13, 2008 (LBO) – Sri Lanka’s Central Bank said it would issue its own securities to drain excess cash generated from foreign exchange interventions after running out of Treasury Bills which are usually sold to drain liquidity.The Central Bank said its Treasury Bill stock has fallen to half a billion rupees by March 12, […]

Mar 12, 2008 (LBO) — Sri Lanka sold 10.8 billion rupees of Treasury bills at an auction Wednesday without moving rates up, the government’s debt office data showed, but it was later offering more bills at average rates, dealers said.However, analysts say in the past excess liquidity had been inflationary in Sri Lanka due to […]

Mar 10, 2008 (LBO) – Sri Lanka rupee gained against the greenback in early trading Monday with state names coming in to cap the domestic currency at 107.50/55 levels while exporters scrambled to sell forward, dealers said.Authorities have been holding the rupee at around 107.70/80 levels in the first two months of 2007, but on […]

Feb 28, 2008 (LBO) – Five foreign banks who bid to syndicate a 300 million US dollar loan for Sri Lanka are discussing an alternative deal to club together and find the money, bankers said. . Sri Lanka’s central bank, which manages the island’s public debt office, invited foreign banks to arrange a 5-year dollar […]

Feb 27, 2008 (LBO) – Sri Lanka will release new currency notes under the signature of president Mahinda Rajapaksa, who is also the finance minister, and governor Nivard Cabraal, the Central Bank said. This week the central bank invited ideas for a new series of notes. A 1,000 rupee note with the new signature will […]

Feb 18, 2008 (LBO) – Sri Lanka has called for proposals from foreign banks to raise 300 million dollars from a syndicated loan aiming to close the deal by late March or April, officials and bankers said. The Central Bank, which manages the island’s public debt, will call a meeting of bankers later this week […]

Feb 01, 2008 (LBO) – The Sri Lanka rupee hit 13-month highs of 107.65/70 against the US dollar as foreign bond buying and tighter monetary policy strengthened the rupee, dealers said. On January 01, 2007 the rupee had closed at 107.60/70 against the US dollar and on Jan 02 at 107.67/77, dealer said. The rupee […]