Category: Money

October 19, 2006 (LBO) – The Sri Lankan rupee closed stronger at 105.70 against the U.S. dollar Thursday, gaining more than a rupee and shaking off losses made earlier in the week, dealers said. Dealers believe extra dollars flowed through a portfolio investment, and state banks which are usually on the buying side also stayed […]

October 18, 2006 (LBO) – The Sri Lankan rupee clawed back from Tuesday’s all-time low on profit taking by most banks, while stocks snapped a two-day slide, following a seaborne attack by Tamil Tiger rebels on the Galle port early Wednesday.Call rates transacted in the brokers’ market were 12.60 percent over a shortfall over around […]

October 17, 2006 (LBO) The rupee sank to a new low Tuesday, falling to 107.65 against the dollar in early morning trade, dealers said.The rupee had also been heavily overvalued with the Real Effective Exchange Rate moving close to 110 percent after the rupee appreciated with tsunami aid flows despite high domestic inflation. Analysts say […]

Oct 17, 2006 (LBO) – Sri Lankan rupee sank further breaching the 107.00 mark amidst profit taking by banks on Tuesday, while share prices fell 0.60 percent as the volatile security situation kept investors away, dealers said. The rupee touched an all time low to close at 107.10 to the greenback, from Monday’s close of […]

October 17, 2006 (LBO) – Sri Lanka plans to raise 150 million dollars via a syndicated loan from foreign investors, the central bank said Tuesday a day after announcing that the country was opening its government bond market for overseas players. The bank said it hopes to raise the loan in November, but stopped short […]

Oct 17, 2006 (LBO) – Sri Lanka issued its first 2000 rupee note on Tuesday, but is no stranger to large denominations, with a ten thousand rupee note put into circulation in 1946. At the time, with Sri Lanka still under British rule and two years short of independence, notes were issued by a currency […]

October 15, 2006 (LBO) – Sri Lanka’s central bank is talking up the rupee ahead of market opening on Monday, as the currency came under heavy pressure, despite falling oil prices. Analysts estimate that the central bank has spent close to 150 million dollars in the past few weeks defending the rupee. The rupee floated […]

October 13, 2006 (LBO) – Sri Lankan rupee closed to a lifetime low Friday, on heavy demand by imports to settle trade bills, while share prices rose as investors were upbeat over a possible resumption of talks between the government and the Tamil Tiger rebels.The rupee fell to 105.95 to the dollar from Thursday’s close […]

October 12, 2006 (LBO) – The Sri Lankan rupee fell to a lifetime low Friday, depreciating just over 3-percent in value against the U.S. dollar, but the Central Bank says the currency has gained slightly against other key countries. The rupee softened to 105.95 to the dollar from Thursday’s close of 105.50 as importer bought […]

October 12, 2006 (LBO) – Sri Lanka’s central bank held rates steady at its October monthly monetary meeting, two weeks after an ad hoc rate rise of 50 basis points. The bank said its benchmark reverse repurchase rate, used to manage liquidity and contain inflation, will remain at 11.125 percent. The short-term repurchase rate at […]

October 9, 2006 (LBO) – Sri Lanka plans to issue its maiden 2,000 rupee note on October 17, to keep pace with island’s galloping inflation, the central bank said Monday. The new note was in the making for nearly six-years with the bank taking stock of the currency last November. “This ‘Heritage series’ currency note […]

September 28, 2006 (LBO) – Sri Lanka’s Central Bank Thursday hiked short term rates by 50 basis points, two days after shutting the bank’s standby cash facility to market players. Gilt prices crashed in thin trading with some dealers quoting 14.0 percent for discounting treasury bills for small value customers of around 100,000 rupees, but […]