Category: Forex

July 19, 2013 (LBO) – Sri Lanka’s central bank, an active trader in gold, has seen losses from steep falls in the precious metal in 2013 after making steady profits over several years as prices rose, according to published data. The Fed is now due to step off the gas pedal and the Euro Zone, […]

July 12, 2013 (LBO) – Sri Lanka’s forex markets saw firm quotes for the spot US dollar Friday at around 130.85/131.00 though trading was still active for spot-next deals where settlement is made three days ahead, dealers said.On Thursday the debt office sold April 11, 2018 bonds at a weighted average yield of 11.18 percent, […]

July 09, 2013 (LBO) – Sri Lanka’s forex markets continued to trade in the spot-next market where settlement is three days ahead, with the spot market remaining dry for the second day running and interbank liquidity high, dealers said. In the spot market, where deals are settled two days later there were no quotes amid […]

May 09, 2013 (LBO) – Sri Lanka’s forex reserves picked up 30 million US dollars to 6,689 million US dollars, ending two months of declines and is estimated to have increased further in April, the Central Bank said.Domestic credit rose partly due to borrowings by state energy firms to subsidize fuel and electricity.The rupee fell […]

May 05, 2013 (LBO) – Sri Lanka’s forex reserves fell 185 million US dollars to 6.659 billion US dollars in February 2013 from a month earlier, and was down 3.1 percent from the beginning of the year, official data showed. The IMF has said Sri Lanka’s reserves have generally been stable. “We don’t think there […]

Feb 11, 2013 (LBO) – Sri Lanka’s official forex reserves rose by 387 million US dollars to 6,877 million US dollar by end December 2012 from 6,490 million US dollar a month earlier, the Central Bank said. Foreign reserves were up 15 percent from the December 2011 level of 5,957 US dollars. In order to […]

Jan 24, 2013 (LBO) – Sri Lanka’s Sampath Bank, the first domestic bank to operate automated teller machines in the island commissioned an ATM that can change foreign exchange into rupees Thursday.The machine can detect counterfeit notes and also dispense change in coins, he said. “Sampath Bank is one of the most innovative banks introducing […]

Jan 02, 2013 (LBO) – Sri Lanka has relaxed curbs on foreign exchange forward deals introduced last year and widened the net open positions for banks with effect from today, Central Bank Governor Nivard Cabraal said.Cabraal said Sri Lanka was estimated to have posted a 100 million dollar surplus in the balance of payments in […]

Dec 07, 2012 (LBO) – Sri Lanka’s official foreign reserves dropped 7. 1 percent to 6,547 million US dollars in October 2012 from a month earlier following the repayment of a sovereign bond, official data showed. The Central Bank said tourism receipts were 790. 2 million US dollars in the first 10 months, worker remittances […]

Oct 06, 2012 (LBO) – Sri Lanka’s central bank has sterilized a foreign exchange sale injecting 8.0 billion rupees in one-month money into the banking system, ending several weeks of monetary policy that has been favourable of a stronger exchange rate. On Friday the central bank printed 8.0 billion rupees for one month at 9.81 […]

Sept 20, 2012 (LBO) – Sri Lanka’s Central Bank said it had issued a direction under the country’s banking law improve “the standard of business conduct and good market practices” on foreign exchange trading activities of licensed commercial banks. However some of the more extreme controls have been relaxed over the past three decades. “The […]

Aug 25, 2012 (LBO) – Sri Lanka’s foreign reserves had risen to 7.1 billion US dollars by end July 2012 from 6,045 million US dollars in June, helped by a loan from the International Monetary Fund and other inflows, the Central Bank said. When remittances, tourism receipts and foreign borrowings are spent by those that […]