Category: Money

Apr. 27 (LBO) – International rating agency Standard & Poor’s Thursday lowered Sri Lanka’s credit outlook to negative from stable, amid escalating violence and fears that the island may slip back to war. However, S&P warned: “The country’s external liquidity could come under pressure if war causes reduced foreign exchange inflows from tourism and tourism-related […]

Apr.19 (LBO) – Sri Lanka’s Central Bank issued 165 billion rupees in cash, the highest ever so far, to meet last week’s New Year shopping spree, an official said Wednesday.“There was high demand for currency due to the holiday season and the recently concluded election,” the bank’s Senior Deputy Governor W A Wijewardene said. The […]

Apr.19 (LBO) – Sri Lanka’s Central Bank issued 165 billion rupees in cash, the highest ever so far, to meet last week’s New Year shopping spree, an official said Wednesday.“There was high demand for currency due to the holiday season and the recently concluded election,” the bank’s Senior Deputy Governor W A Wijewardene said. The […]

Apr.17 (LBO) – Sri Lanka’s Central Bank scrambled to cater to an unusually heavy demand for currency notes over the April festive holiday season.Commercial bankers say they were surprised to find the Central Bank returning old currency notes sent by the banks earlier with their seals intact. “Usually Central Bank gives us machine-strapped bundles sorted […]

Apr.12 (LBO) – Sri Lanka’s Central Bank Wednesday maintained policy rates for the fourth straight month as they are comfortable with economic expansion, though private sector credit demand has not shown signs of abating. The repurchase rate, which drains the money from the banking system, stays at 8.75 percent, while the reverse repurchase rate remains […]

Apr.12 (LBO) – Sri Lanka’s Central Bank Wednesday maintained policy rates for the fourth straight month as they are comfortable with economic expansion, though private sector credit demand has not shown signs of abating. The repurchase rate, which drains the money from the banking system, stays at 8.75 percent, while the reverse repurchase rate remains […]

Apr.11 (LBO) – Sri Lanka’s Central Bank is unlikely to cut interest rates this month, though some traders are expecting a 25 basis point cut. -Mel Gunasekera: mel@ The repurchase rate currently stands at 8.75 percent and the reverse repurchase rate is at 10.25 percent. The repurchase rate is the return on cash deposited by […]

Mar. 24 (LBO) — Sri Lanka is likely to cut interest rates later this year, in a backdrop of declining inflation, a top bureaucrat who plays a key role in the country’s fiscal and monetary policies said Thursday. “There has been a consecutive drop in inflation over the past few months, which leaves room for […]

Mar. 24 (LBO) — Sri Lanka is working on changing its debt profile, replacing old concessional loans with overseas borrowings and re-allocating low yielding foreign loans to other projects, the treasury secretary said Thursday. Treasury Secretary P B Jayasundara said the island was floating an international bond this year to raise between US$500 million to […]

Mar. 15 (LBO) – Sri Lanka’s Central Bank Wednesday left its policy rates at current levels for the third straight months, as it expects the 25-basis point hike last December to put the brakes on money supply growth.In a statement, the bank said it left its overnight repurchase rate at 8.75 percent and the reverse […]

Mar. 15 (LBO) – Sri Lanka’s Central Bank Wednesday left its policy rates at current levels for the third straight months, as it expects the 25-basis point hike last December to put the brakes on money supply growth.In a statement, the bank said it left its overnight repurchase rate at 8.75 percent and the reverse […]

Feb. 22 (LBO) — Sri Lanka is planning to issue a series of coins to commemorate the upcoming 2550th Bhuddha Jayanthi, but details are still being worked out, officials said.The government is to issue at least three new coins and a souvenir stamp, B N Jinasena, Secretary to the Religious Affairs Ministry said Wednesday. Two […]