Sri Lanka had BOP surplus by end July: Central Bank

Sept 29, 2011 (LBO) - Sri Lanka had recorded a balance of payments surplus of 1,006 million US dollars by July 2011, with official foreign reserves climbing to 8,099 million US dollars, the Central Bank said.
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Foreign inflows to the state, including a billion dollar sovereign bond was 2,754 million US dollars and foreign direct investments were 413 million US dollars, creating a balance of payments surplus of 1,006 million US dollars.
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Relaxation of exchange controls had allowed 14 companies to borrow 197.

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1 million dollars abroad by mid September 2011. Twenty new foreign companies had started business in Sri Lanka.

Sri Lanka's rupee peg had come under pressure in recent weeks.

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In the spot market the dollar was quoted 110.18/20 rupees Thursday, pointing to some deals done a tad under the intervention rate of 110.

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20 rupees, dealers said. Official reserves were equal to 5.
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7 months of imports by end July.

The central bank said up to July exports rose 30.

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3 percent to 6,014 million dollars and imports rose 48.
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3 percent to 11,091 million dollars.

Imports rose due to investment goods, and intermediate goods like oil. Sri Lanka's oil bill had risen 39.

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4 percent to 2,493 million dollars in the s
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