Category: Money

Sept 5, 2007 (LBO) – Sri Lanka’s 3-month Treasury bill yields moved up 15 basis points to 17.80 percent rolling over 9.3 billion rupees of debt on Wednesday’s auction, the government’s debt office said.The cut-off for the 3-month bill had moved to 17.95 percent, dealers said. The 6-month yield moved up 16 basis points to […]

September 04, (LBO) – Standard & Poor’s (S&P) had replaced its president amid mounting criticism by investors and calls by US lawmakers and EU officials to explain lax rating decisions. Standard and Poor’s had named Deven Sharma to replace Kathleen Corbet as president. McGraw-Hill, the parent company of S&P said Corbet was stepping down “to […]

Sept 04, 2007 (LBO) – Sri Lanka rupee came off highs of 113.02 against the greenback Tuesday to close sharply lower in a day that saw strong buying from a state name, dealers said. The rupee opened around 112.97/113.02 to the dollar but closed at a new low of 113.15/18 rupees in spot trade. “The […]

September 01, 2007 (LBO) – The Sri Lanka rupee closed firmer against the greenback at 113.00/113.05 Friday trading two days without central bank intervention, giving confidence to the market. The spot dollar closed at 113.12/18 Thursday which was almost flat from the previous day. The rupee had earlier been hit by heavy central bank market […]

August 31, 2007 (LBO) – Sri Lanka’s central bank is talking up the rupee saying a one percent fall in the currency during the past two weeks is ‘unwarranted’ because exports are strong, imports weak and remittances are flowing in.The comments came after the spot dollar broke the 113.00 rupee barrier this week and the […]

August 30, 2007 (LBO) – The Sri Lanka rupee traded at a low of 113.17 against the greenback and closed at 113.12/18 Thursday, a day after it broke the resistance level at 113 rupees, dealers said.The rupee traded at 113.10 yesterday and also closed at 113.12/18 despite mild official intervention through a state name. The […]

August 29, 2007 (LBO) – Sri Lanka’s financial markets got off to a shaky start Wednesday with the rupee edging lower against the greenback and stocks losing ground after opening firmer after a religious holiday. The spot dollar traded at 113.10 rupees with intervention at 113.08 dealers said. Meanwhile overnight call rates dropped to 13.00/13.50 […]

August 24, 2007 (LBO) – The Sri Lanka rupee eased towards a resistant level on the figure with spot deals touching 112.67 against the greenback in intra-day trading Friday, dealers said.The Sri Lanka rupee has largely held steady against the greenback in recent weeks while most regional currencies, including the Australian dollar, lost ground sharply. […]

August 24, 2007 (LBO) – The Sri Lanka rupee closed Friday with bids at 112.70 against the greenback with the highest deal at 112.67 in spot trade in a day that it floated freely with no intervention from the authorities, dealers said. The week closed with bids for the spot dollar at 112.70 and offers […]

August 23, 2007 (LBO) – The Sri Lanka rupee tested new lows against the greenback Thursday while overnight cash rates moderated after the monetary authority relaxed access to its discount window.In mid-day trade the spot dollar changed hands around 112.25 rupees with offers at 112.30 levels, dealers said. Official intervention was seen in the market […]

August 22, 2007 (LBO) – Sri Lanka’s Central Bank opened its discount window to primary dealers allowing them to get overnight cash after overnight rates hit 49 percent in early trade Wednesday, dealers said.The monetary authority had cut primary dealers off the window earlier in a bid to stop arbitrage on rates with an artificially […]

August 21, 2007 (LBO) – Sri Lanka’s interbank rates touched 40 percent in early trade Tuesday after the market ran out of liquidity amidst pressure on the currency, dealers said. However a fresh inflow of foreign capital can reduce pressure. The overnight call rate, where banks borrow from each other without collateral in the interbank […]