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Tuesday May 24th, 2022
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Inflation likely to stay around 30-40 pct in the near term
Money printing triggers excess outflows, forcing the currency down and triggering parallel exchange rates
Cross default clauses triggered
Debt advisors expected to be appointed by the cabinet soon
In the rupee interest rates we can give central bank financing to the primary market and through open market operations
Note holding ceiling to be brought down from 15,000 to 10,000 dollars
Policy undermined by printing money for state workers
The current crisis is having far-reaching implications on the ability of women and girls to live in dignity
To pay the ships we will take action to buy dollars from the free market
We have to keep in mind that printing money will depreciate the rupee
From January 2020 to March 2022, reserve money has grown 49pct, broad money 52-pct and the food price index 51-pct
In the next few weeks we will face the most difficult time
Prime Lending Rates top 19 percent in May after rate corrections
If there is not enough money the central bank has to monetize it
The EU urges all parties to refrain from violence and to show restraint
We are following developments in Sri Lanka closely and are concerned about rising social tensions and violence
| Latest | Last | |
|---|---|---|
| US Dollar | 364.4202 | 364.4504 |
| UK Pound | 458.4562 | 454.9265 |
| Euro | 387.0507 | 385.9320 |
| Aus Dollar | 260.3089 | 257.4611 |
| Yen | 2.8814 | 2.8648 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 4.6162 | 4.6218 |
| Korea Won | 0.2831 | 0.2831 |
| Oman Rial | 933.5913 | 933.6892 |
| Saudi Riyal | 95.8218 | 95.8319 |
| UAE Dirham | 97.8580 | 97.8683 |
| pts | % | |
|---|---|---|
| S&P SL20 | 2,844.97 | 3.42% |
| CSE All Share | 8,474.49 | 2.53% |
| Turnover Rs million | 2,730,762,448 | 1,978,302,133 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 21.98 | 21.19 |
| 6-m bill | 22.23 | 21.80 |
| 12-m bill | 22.89 | 22.67 |
| 5-yr bond | 21.70 | 22.43 |
| 8-yr bond | 21.46 | 22.52 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 14.50 | 14.50 |
| Gilt Repo | 14.50 | 14.50 |
| I-m SLIBOR | - | - |
We firmly emphasize the importance of formulating and implementing medium and long-term economic and structural reforms
The destruction of Sri Lanka's public service began with temporary secretaries
Total advanced to banks through swaps have risen to US$351mn
Foreign exchange shortages and currency depreciation is a problem associated with soft-pegged exchange rates
The central bank said there were 1,827 million dollars of currency reserves, down from 1,917 million dollars
We remain committed to assisting Sri Lanka, in line with the IMF’s policies
Chinese Yuan are 'restricted use'
Whether we can resolve this crisis in 2 years or 10 years, it all depends on us
'Unprint' money from June 01
US$400mn swap extended by three months
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