Category: Forex
POLL: Sri Lanka Central Bank expected to keep policy rates steady
July 26, 2016 (Reuters) – Sri Lanka’s central bank is expected to keep its key interest rates steady for a fifth straight month on Thursday, a Reuters poll showed, despite signs that inflation and private sector credit growth are picking up. The central bank has tightened monetary policy twice since December to fend off pressure on the fragile rupee […]
Sri Lankan rupee steady; exporter dollar sales offset importer demand
July 26, 2016 (Reuters) – The Sri Lankan rupee traded steady on Tuesday in dull trade as importer demand for the dollar was offset by greenback selling by exporters, dealers said. One-week rupee forwards, which have been acting as a proxy for the spot rupee, were steady at 146.20/35 per dollar compared with Monday’s close […]
Sri Lankan rupee edges up on bank dollar sales; stocks slip
July 25, 2016 (Reuters) – The Sri Lankan rupee edged up on Monday as dollar selling by a state-run bank surpassed importer demand for the greenback, dealers said. One-week rupee forwards, which have been acting as a proxy for the spot rupee, were at 146.05/20 per dollar at 0623 GMT, compared with Friday’s close of […]
Sri Lankan rupee gains on dollar selling by state bank; stocks up
July 22, 2016 (Reuters) – The Sri Lankan rupee rose on Friday as dollar selling by a state-run bank surpassed mild importer demand for the greenback. One-week rupee forwards, which have been acting as a proxy for the spot rupee, were at 145.80/146.00 per dollar at 0544 GMT, compared with Thursday’s close of 146.30/40. “I […]
Sri Lankan rupee edges up on dollar sales by state bank
July 21, 2016 (Reuters) – The Sri Lankan rupee edged up on Thursday as dollar sales by a state bank outpaced the importer demand for the greenback, a day after a top central bank official said proceeds from a $1.5 billion sovereign bond issue, which dealers say would lift the local currency, have flowed in. […]
Sri Lankan rupee falls on importer dollar demand; stocks up
July 20, 2016 (Reuters) – The Sri Lankan rupee fell on Wednesday due to dollar demand from importers, even as a top central bank official said proceeds from a sovereign bond issue, which dealers say would lift the local currency, have flowed in. “Once the money comes in, it is obviously part of our reserves,” […]
Sri Lankan rupee firms on dollar selling by foreign bank; stocks rise
July 13, 2016 (Reuters) – The Sri Lankan rupee rose on Wednesday as a foreign bank sold dollars on behalf of investors keen to buy local bonds after Finance Minister Ravi Karunanayake said the currency would rise on expected inflows from a sovereign bond issue, dealers said. Sri Lanka raised $1.5 billion in its first […]
‘s sovereign bond orders hit USD5.5 bln, govt raises USD1.5 bln (Updated)
July 12, 2016 (LBO) – The Central Bank of Sri Lanka on behalf of the government successfully raised 500 million dollars through 5.5-year sovereign bonds and one billion dollars through 10-year sovereign bonds The Central Bank said the “successful issuance” was Sri Lanka’s 10th US Dollar bond issuance and the first dual-tranche offering. The Bonds […]
‘s sovereign bond orders top USD4.5 bln: source
HONG KONG/COLOMBO July 11 (Reuters) – Sri Lanka’s first dual-tranche sovereign bond orders exceeded $4.5 billion while the final guidance for both tranches fell at least 25 basis points from the initial guidance, a source close to the deal told Reuters. The source said the final guidance for the 5.5-year tranche was about 5.8 percent […]
Sri Lankan rupee falls as foreign investors prefer new eurobonds
July 12, 2016 (Reuters) – The Sri Lankan rupee fell on Tuesday on a lack of exporter dollar conversions and as foreign investors cut down on rupee bond buying in favour of a new higher-yielding sovereign debt, dealers said. Sri Lanka raised $1.5 billion in its first sale of dual-tranche eurobonds on Monday, although at a […]
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July 11, 2016 (LBO) – Brexit could heighten balance of payment pressure over Sri Lanka in the event that there was severe and prolonged market volatility, Moody’s Investors Service said in a research report. Releasing a report which is one of a series on the impact of Brexit on sovereigns in different regions, Moody’s said […]
Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K
July 07, 2016 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake told Parliament Thursday that the country has seen an upward movement in foreign reserves after Brexit. Finance Minister pointed out that the country now has reserves sufficient for 4 months of imports. “We can see that there is an advantage in Brexit to Sri […]