Category: Money

Treasury rates remained flat at this weeks auction ahead of Central Banks monthly monetary policy announcement on Friday.Market players are not expecting the bank to tinker with the short-term rates, though the Finance Minister recently announced that the government-borrowing programme would shoot up by Rs.22 bn this year.rn rnAfter nearly two-years of tough fiscal management, […]

Singer Sri Lanka plans to retire some its short-term borrowings with a Rs. 400 mn four-year debenture issue coming out in March.Singer is keen to reduce its interest cost further after cutting down its 2003 average interest rates to 11.6 percent from 14.2 percent previously. rn rnThe issue, structured by First Capital Ltd, will be […]

The Stock Exchange will tap into internal funds to raise the issued share capital of its depositary system to Rs.100mn endash a final clause to allow secondary trading in debt securities.The CSE was issued a license by the Central Bank for its new electronic debt trading system or DEX that was launched Wed., but with […]

After rising against the dollar, the rupee lost around 1 percent, as the markets panicked over a snap poll.rn rnldblquote The rise was largely attributed to a lack in investor confidence since the political crisis blew up last Nov., dblquote he said addressing a gathering at the opening of the Colombo Stock Exchanges new debt […]

The Central Bank says it will issue Rs. 2 bn worth of two-year treasury bonds to the debt market, as part of its borrowing programme for March.rnrnOf the Rs. 27.114 bn worth of treasury bills maturing, the bank has opted to re-issue only Rs.20.364 bn worth of paper. The balance Rs. 6.750 bn will be […]

LB Finance is tapping the capital markets to raise Rs. 200 mn by securitising its Rs. 1.1 bn leasing portfolio.The 33-year old company secures nearly 70 percent of its revenues by offering leasing facilities endash mainly to the vehicle segment.rn rnThe firm says its Rs. 2.0 bn deposit base, is hard pressed to feed its […]

The Colombo Stock Exchanges debt trading system officially goes live next Wed. giving investors an opportunity to electronically trade in government treasuries and corporate debt paper.Investors can trade through specialised debt dealers; Capital Alliance, NatWealth Corp., and Seylan Merchant Bank, or 15 stockbrokers, the CSE said Wednesday.rn rnDeveloped by Millennium Information Technologies, the top-of-the-range trading […]

Central Bank says market participants should go for maximum disclosure based on good accounting standards when getting into derivative trading.ldblquote It is a daunting task to regulate them without knowing where to begin and where to end, dblquote Central Bank Governor, A S Jayewardene said.rn rnGovernor Jayewardene was speaking at a derivatives seminar organised by […]

A state bank rode into the foreign exchange markets once again on Thursday to champion the currency and prevent it from touching the 100.00 rupee mark against the US dollar.The rupee opened at 99.15 and stealthily rose to hit an all time mid-day high of 99.35 against the greenback.rn rnBut state run Bank of Ceylon […]

The rupee slipped up against the US dollar to end at 99.15, despite a state bank selling some dollars to shore up the currency.The rupee opened at 99.25, before the intervention brought it down to 98.90. Dealers said there was heavy import demand, on slim volumes.rn rnDealers said Bank of Ceylon had sold some dollars […]

Three-month treasury yields continued to surge upwards as the market becomes uneasy over the upcoming April polls.The Central Bank offered and accepted Rs.6.462 bn worth of bills at Tuesdays auction, though the market sent in bids for Rs.11.065 bn, the Central Bank said.rn rnThe weighted average yield rate for three-month paper rose eight basis points […]

A state bank crept into the foreign exchange markets on Tuesday morning to shore the rupee up, to prevent it from touching the psychological 100.00 rupee barrier against the US dollar.The rupee fell to 99.25 against the US dollar in early Tuesday trade, after closing at 98.95 against the greenback on Monday.rn rnThe Central Bank […]