Category: Forex
‘s ruble collapse tied to energy prices, volatility to continue
Sept 08, 2015 (LBO) – Russia’s ruble has lost 45 percent of its value this year tied to collapse in oil prices, and volatility is likely to continue, analysts say. With Brent crude oil prices plunging more than 50 percent, the world’s biggest energy exporter has struggled to maintain its currency. 12 months ago, the […]
Foreign holding of Sri Lanka govt securities falls during week
Sept 05, 2015 (LBO) – The holding of Sri Lanka government securities by foreign investors reduced to 350 billion rupees in the week to September 02, from 375 billion rupees in the previous week, information from the central bank showed.Foreign investors held 457 billion rupees worth of government securities at the beginning of the year. […]
Update 2-Sri Lanka Central Bank may intervene less in forex: source
Sept 04, 2015 (LBO) – The Sri Lankan central bank may intervene less in the forex market by not quoting a specific level, a market source told Lanka Business Online, as the rupee opened lower against the dollar on Friday.Early on Friday, USD/LKR saw a transaction done at 136.75, after wide quotes and no trades. […]
Sri Lanka to receive USD1.1 bn under RBI swap arrangement: Central Bank Governor
Sept 03, 2015 (LBO) – Sri Lanka will receive the balance 1.1 billion dollars from the Reserve Bank of India to boost foreign reserves under a 1.5 billion dollar swap arrangement, the Central Bank Governor Arjuna Mahendran confirmed to Lanka Business Online. On April 30th, Sri Lanka obtained 400 million dollars under this arrangement, which […]
Rare positive correlation between stocks and bonds in US, China
Aug 29, 2015 (LBO) – A rare positive correlation was seen between equities and bonds this week with China’s equities plunging and demand for 30-year US treasuries falling at the same time. On Tuesday and Wednesday, when US equity markets were tumbling, demand for 30-year US Treasury bonds fell, the opposite of what happens when […]
Debt Report: Money market keeps close eye on CB T-bill holdings, interest rates pick up
Aug 27, 2015 (LBO) – Sri Lanka money markets kept a close eye on treasury bill purchases by Sri Lanka’s central bank this week, as interest rates rose amid turbulence in global markets.The central bank’s holding of treasury bills increased to 92.4 billion rupees on Monday from around 69 billion earlier this month, which is […]
Some China researchers see yuan at 7 by year end: report
25, Aug 2015 (LBO) – Some research institutions in China are working on the assumption of the yuan weakening to 7 to the dollar by year end from the current 6.4135, a report said. Though these studies done by institutions in China have not yet been made public, they indicate analyst predictions of an eight […]
China devalues yuan by 1.9 pct against dollar
Aug 11, 2015 (LBO) – Calling it a one-time fix, China’s central bank devalued its tightly-controlled currency, the yuan, by 1.9 percent on Tuesday. The midpoint for the yuan is now set at 6.2298 against the dollar, compared with 6.1162 yuan on Monday, the lowest rate for the yuan against the US dollar in almost […]
BRICS Development Bank To Counter Western Lenders
July 22, 2015 (LBO) – The BRICS group of emerging economies launched its New Development Bank (NDB) in Shanghai on Tuesday with the promise of more financial security to its member states and developing countries. Set up by Brazil, Russia, India, China and South Africa, it is seen by many as a counter to the […]
Sri Lanka to strengthen rupee to 129 in next two weeks: Finance Minister
June 23, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake says the government will strengthen the rupee to 129/130 against the US dollar in the coming two weeks. “When we tookover the government it was at 133.25 rupees to the US dollar and now it is at 133.90 rupees,” Karunanayake told reporters Tuesday. “In two […]
Sri Lanka’s foreign reserves upsurge to USD7.5bn in April, CB predicts further growth
June 2, 2015 (LBO) – Sri Lanka’s gross foreign reserves rose to 7.5 billion US dollars in April 2015 from 6.8 billion US dollars in March, due to a 400 million US dollar currency swap from the Reserve Bank of India, Central Bank said. The regulator says the reserves likely to increase further helped by […]
‘s foreign reserves at US$8.9bn in April 2014
June 22, 2014 (LBO) – Sri Lanka’s foreign reserves rose to 8.9 billion US dollars in June 2014 from 8.05 billion in March, boosted by foreign borrowings and weak credit that reduced outflows, official data showed.The Central Bank said foreign reserves were now equal to 5.9 months of imports. The central bank has been buying […]