Category: Forex
First Capital recommends investors to reduce exposure in low yield bonds
Aug 01, 2019 (LBO) – Sri Lanka’s First Capital recommends investors to reduce overall portfolio exposure to 45 percent from 60 percent. The firm recommends cutting 2021 and 2022 maturities of the carrying portfolio amidst the significant reduction in yields. They also recommended an increase in 2023 and 2024 maturities in the trading portfolio amidst […]
Sri Lanka’s 1st dollar sovereign bond fund poised for global investors
Jul 26, 2019 (LBO) – Strong demand on the recent issuance of Sri Lankan International Sovereign Bonds (ISB) signals potential for a strong economic recovery according to Ceylon Asset Management (CAM)) Director and Economic Advisor, Rainer Michael Preiss. “The decline in Sovereign Bond Yields indicate that the worst is over for Sri Lanka. The coupon […]
Sri Lanka vehicle registrations down in June 2019
Jul 22, 2019 (LBO) – Sri Lanka’s vehicle registrations across most categories have declined in June relative to May, a new report shows. Data compiled by JB Securities equities research shows a drop in 2-wheeler registrations have driven down the total to 26,201 the lowest on record over the past 36 months. The slowdown and […]
Sri Lanka reserves improve to USD 8.9bn by end June; YTD rupee appreciation 4.1-pct
July 11, 2019 (LBO) – Sri Lanka’s gross official reserves have reached 8.9 billion US dollars by end June 2019, following the receipt of 2 billion US dollars from the issuance of ISBs, providing an import cover of 5.1 months, the Central Bank said. The successful issuance of the International Sovereign Bonds (ISBs) in June […]
Sri Lanka launches its National Card Scheme
Jun 24, 2019 (LBO) – The Central Bank of Sri Lanka together with LankaClear (LCPL) achieved a significant milestone in the country’s payment landscape by launching the National Card Scheme (NCS). The Central Bank said in a statement that the NCS will be operated by LCPL in partnership with the international payment card operator JCB […]
Sri Lanka vehicle registrations down in May 2019
Jun 19, 2019 (LBO) – Vehicle registrations across the board slowed except for 2 wheelers, mini and light trucks during the period May 2019, a new report shows with the turmoil in the country during that month significantly contributing. Total motor car registrations recorded 1,816 units in May down from 2,120 units in April and […]
First Capital upgrades exchange rate outlook for 2019E to LKR 180 from 194
Jun 13, 2019 (LBO) – Sri Lanka’s First Capital Research has upgraded their exchange rate outlook for 2019E to 1 USD: LKR 180 from 194 as their 65 percent base case scenario. The firm has also introduced a 12-month target for Jun 2020E of 1 USD: LKR 185 as a 60 percent base case scenario. […]
Sri Lanka official reserves fall to USD 6.7bn by end May from 7.2bn in April
Jun 07, 2019 (LBO) – Sri Lanka’s gross official reserves were 6,732.4 million US dollars by the end of May, down from 7,212.7 million US dollars in April, latest Central Bank data showed. By the end of May, foreign currency reserves were 5,824.3 million dollars while the reserve position in the IMF was 65.9 million […]
World Bank to allocate USD 250mn policy based guarantee to Sri Lanka for external borrowings
May 29, 2019 (LBO) – The World Bank has offered 250 million US dollars worth policy based guarantee to Sri Lanka for the external borrowings, the Central Bank Governor Indrajit Coomaraswamy said. According to the Governor, under this facility Sri Lanka can leverage the guarantee four times over to borrow money from the international market […]
Sri Lanka rupee appreciated 3.8-pct against the US dollar up to 28 May 2019
May 29, 2019 (LBO) – Sri Lankan rupee appreciated against the US dollar by 3.8 percent by end March 2019 compared to end 2018. “Along with the significant reduction in the trade deficit and significant inflows to the financial account, the Sri Lankan rupee appreciated against the US dollar by 3.8 percent by end March […]
First Capital Research allocates 95-pct probability for a policy rate cut
May 27, 2019 (LBO) – First Capital Research has allocated a 95 percent probability for a policy rate cut in May 2019 as they are of the view that policy intervention is inevitable to revive the overly sluggish economy and credit growth. “Despite the Road Map towards a single policy rate, we believe a rate […]
Strong possibility of a rate cut; interest rate decline to boost stock market: Capital Trust
May 26, 2019 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy has hinted a strong possibility of a policy rate cut at the next monetary policy review meeting scheduled on 31 May 2019. According to the Governor there is a strong case for relaxing monetary policy. “All options are there, it could be a […]