Category: Money

June 21, 2007 (LBO) – Sri Lanka’s gilt rates shot up 30 basis points, a day after the government recieved permission from lawmakers to spend extra money on newly created ministries.Average yields at this week’s treasury bills auction moved up 30 basis points to 17.34 percent with the 3-month rate, which has now become the […]

May 29, 2007 (LBO) – Sri Lanka’s three-month Treasury bill average yield edged up 22 basis points to 16.91 percent as the government raised 11.9 billion rupees from Tuesday’s gilt auction. Analysts warn that interest rates would be high unless the government takes steps to cut the budget deficit and bring fiscal discipline back. Dealers […]

May 10, 2007 (LBO) – Sri Lanka plans to issue commemorative coins to felicitate cricketers, who emerged runners-up in the recently concluded World Cup held in the Caribbean, officials said. President Mahinda Rajapakse, who is also the island’s finance minister, has asked Sri Lanka’s Central Bank to begin work on issuing a new coin, his […]

May 4, 2007 (AFP) – Sri Lankan children are being encouraged to raid their piggy banks in a bid to end a serious shortage of loose change in a country where inflation is making coins worth more than their face value.State-owned banks are offering colour pencils, felt pens, drawing paper and books to children who […]

May 04, 2007 (LBO) – The Sri Lanka rupee closed at a record low against the dollar Friday while stocks edged lower with jittery investors remaining on the sidelines, dealers said. Spot dollar closed at 110.85 rupees, the lowest this year, showing a depreciation of 3.11 percent for the year with the rupee starting at […]

May 03, 2007 (LBO) – Sri Lanka’s inter-bank markets opened quiet after a two-day religious holiday with money at 13.25 percent, but stock trading was delayed in a rain washed morning, dealers said.The spot dollar was trading around 110.70 rupees in early trading. The Colombo stock market did not open at the scheduled time of […]

March 11, 2007 (LBO) – Sri Lanka’s inter-bank call rates hit 50 percent Wednesday even as the monetary authority pumped billion of rupees into the banking system to make-up for a seasonal cash draw down from the system.Sri Lanka’s money supply usually zooms in April during the island’s Sinhala and Tamil New Year as government […]

April 09, 2007 (LBO) – Heavy cash withdrawals from banks to fund spending in the new year festive season drove up call money rates Monday with reserve money also shooting up, dealers said. “Most of the big fish are gone on holiday, either out of Colombo or overseas,” said Reshan Kurukulasuriya, Vice President, DFCC Stockbrokers. […]

March 29, 2007 (LBO) – Sri Lankan money market rates eased further with more liquidity in the market and dealers saying they believe the rates should stabilize at lower levels and be less volatile.Thin trading was seen on the Colombo tock Exchange as it opened with brokers saying the market was likely to remain inactive […]

March 27, 2007 (LBO) – The inter-bank call market call rates eased to 35 percent Wednesday, a day after rates hit a record 50 percent, dealer said. “Liquidity is a little bit tight but over the next couple of days might money ease,” a dealer said. The Central Bank is expected to inject cash on […]

March 27, 2007 (LBO) – Sri Lanka’s Interbank call rates rocketed to a new 12-year high of 50 percent Tuesday with state banks on the borrowing side, dealers said. Interbank call rates hit 38 percent Monday with the Central Bank keeping cash tight in a bid to dampen raging inflation brought on by excessive money […]

March 17 (LBO) – Sri Lanka’s overnight money market rates came down from a 12-year high following a cash inflow from a dollar bond issue Friday, while the Central Bank took swift measures to keep markets on a tight path. Sri Lanka’s overnight call rates hit a high of 35 percent Thursday, the highest since […]