Category: Forex
Perpetual Treasuries suspension of business activities extended by 6 months
Jan 04, 2019 (LBO) – Monetary Board of the Central Bank has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business activities of a Primary Dealer for a period of six months with effect from tomorrow.The Central Bank said the extension was carried out in terms of the Regulations made […]
Sri Lanka to complete IMF programme in 2019; reserves at USD6.9bn
Jan 02, 2019 (LBO) – Sri Lanka’s Central Bank Governor remained optimistic that the staff level agreement reached in principle with the IMF on the fifth review will proceed to the next level with the successful completion of the IMF EFF programme this year. Announcing the monetary and financial sector policies for 2019, Governor Indrajit […]
First Capital increases equity exposure as global funds reversing towards Asia
Dec 28, 2018 (LBO) – First Capital Research has upgraded its equity exposure to 60 percent with the belief that the events that have unfolded globally may benefit Sri Lanka and the equity market over the next few months positively impacting earnings and possibly leading to net foreign inflows. Over the last 3 months, they […]
Net outflows from securities market & CSE surpasses USD200mn in October
Dec 21, 2018 (LBO) – Sri Lanka’s Central Bank says the trend of foreign investment outflows from the financial account continued during October, with notable outflows from the Colombo Stock Exchange and the government securities market.Government securities market recorded a net outflow of 172 million dollars in the month of October while foreign investments in […]
Fin Min rebuts social media reports on alleged illegal instruction to Customs
Nov 27, 2018 (LBO) – The Finance Ministry issuing a statement denied any illegal instruction given by the Minister of Finance to the Sri Lanka Customs to release the currency of foreign nationals who work at the Uma Oya project to be taken out of the island.“Attention of the Ministry of Finance and Economic Affairs is […]
Sri Lanka rupee hits new low of Rs.180: Stocks down 0.34-pct
Nov 23, 2018 (LBO) – The Sri Lanka rupee dropped to a low of 180.66 against the US dollar following a political crisis, which began a month earlier in the island. The rupee was quoted at around 178.70/179.30 rupees on Friday, down from Wednesday’s closing of 178.40/70. The political crisis which began when president Maithripala Sirisena […]
‘s Central Bank says Moody’s latest rating decision is unfounded
Nov 21, 2018 (LBO) – Sri Lanka’s Central Bank on Wednesday said that it is of the view that the decision by Moody’s to downgrade Sri Lanka’s foreign currency issuer and senior unsecured ratings from B1 (Negative) to B2 (Stable) does not properly reflect the country’s macroeconomic fundamentals, and therefore unwarranted. The Central Bank said […]
‘s downgrades Sri Lanka ratings to B2 amid political crisis
Nov 20, 2018 (LBO) – Moody’s Investors Service has downgraded the Government of Sri Lanka’s foreign currency issuer and senior unsecured ratings to B2 from B1 and changed the outlook to stable from negative. The decision to downgrade the rating to B2 is driven by Moody’s view that ongoing tightening in external and domestic financing conditions and […]
Sri Lanka CB Chief confident of meeting debt repayment targets in 2019
Nov 14, 2018 (LBO) – Political uncertainty will not have an impact on Sri Lanka’s debt repayment preparations for 2019, the Central Bank Governor said. “Despite the uncertainty we have been operating with business as usual, ” Dr. Indrajit Coomaraswamy, Governor, Central Bank told reporters in Colombo, Wednesday. “CB is ready to cover the January 15th […]
Sri Lanka official reserves at USD7.9bn by end Oct; YTD rupee depreciation 12.9-pct
Nov 14, 2018 (LBO) – Supported by the receipt of the foreign currency term financing facility of 1 billion US dollars by the government, gross official reserves amounted to 7.9 billion US dollars as at end October 2018, providing an import cover of 4.2 months, the Central Bank said. The bank added that the significant […]
Sri Lanka Central Bank rejects recent news articles on increased money printing
Nov 07, 2018 (LBO) – Sri Lanka’s Central Bank on Wednesday rejected newspaper articles published about the increased money printing by the Central Bank in the past few days. The Central Bank says the concepts and facts in such articles remain grossly inaccurate and advised general public to refer to accurate technical articles that are […]
Mangala says Singapore Platts price of refined petrol down 12-pct since Oct 10
Nov 05, 2018 (LBO) – Mangala Samaraweera says that the Rajapaksa administration is attempting to revert to the opaque, politicized regime of fuel pricing that resulted in the CPC being landed with a huge debt which is eventually borne by taxpayers. Samaraweera said that there has been a 12 percent reduction in the Singapore Platts […]