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Friday January 21st, 2022

Sri Lanka needs corrective economic package: Wijewardena

Unless the bitter pill is taken Sri Lanka has no future

3 min read

Sri Lanka CB allays fears of expat workers

Says dollars of foreign resident workers will not be converted

3 min read

Sri Lanka sells down monetary gold as forex reserves drop

Country has not bought gold since 2014

3 min read

Sri Lanka foreign reserves US$3,137mn in Dec, gold reserves down

Gold reserves down to US$175mn from US$382mn

3 min read

Sri Lanka foreign remittances down 60-pct in December 2021

Money printing has created a wide parallel exchange rate

US inflation hits 40 year high as Sri Lanka prices soar

Highest since 1982 when Paul Volcker was taming the Great Inflation

Sri Lanka may draw down US$1.5bn China swap

Swaps with Middle Eastern nations were in an advanced stage

1 min read

Sri Lanka remittances down to 12 year low in Nov 2021 amid credibility loss of peg

Remmitances are at levels seen in the second quarter of 2009

3 min read

Sri Lanka disputes Fitch sovereign downgrade to CC

Sri Lanka said the downgrade was 'hasty'

6 min read

Sri Lanka overnight injections top Rs400bn amid sterilized interventions

Bill stock estimated at Rs1.8 trillion

5 min read

Fed to follow John Law for time being as inflation hits records in the US and Sri Lanka

No rate hikes for at least a quarter

5 min read

Sri Lanka investors hold US$170mn in January sovereign bond: CB Governor

Local holders of Sri Lanka sovereign bonds are mostly banks

1 min read

Sri Lanka targets 300,000 expat workers as policy rate depletes reserves

We will send to new markets in Japan, Korea and Romania, and UK

2 min read

Sri Lanka eyeing billion US dollar Qatar swap to boost forex reserves: Minister

Efforts to boost reserves

1 min read

Sri Lanka facing forex reserve crisis, but all debt will be repaid: Finance Minister

I admit that from the foreign reserve point of view also we are in a serious situation

3 min read

Sri Lanka CB raids money changers for offering parallel exchange rates

Licenses to be cancelled

2 min read

Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 201.0530 201.9442
UK Pound 273.9247 274.7249
Euro 228.2856 228.6917
Aus Dollar 145.4317 145.2585
Yen 1.7595 1.7610
Source: Central Bank/Indicative
Latest Last
Indian Rupee 2.7009 2.7080
Korea Won 0.1687 0.1694
Oman Rial 522.2088 524.5236
Saudi Riyal 53.5941 53.8245
UAE Dirham 54.7373 54.9800
Source: Central Bank/Indicative
pts %
S&P SL20 4,623.95 0.12%
CSE All Share 13,462.39 0.04%
Turnover Rs million. 2,191,558,044.10 5,566,542,126
Source: CSE
Latest Last
3-m bill 7.91 7.84
6-m bill 8.18 8.12
12-m bill 8.37 8.29
5-yr bond 10.93 10.69
8-yr bond 10.93 11.52
Source: Central Bank/Indicative
today yesterday
Overnight Money 5.93 5.99
Gilt Repo 5.14 5.14
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka dollar salary earners protest as banks force convert forex

I was told my entire salary would be converted against my wishes

4 min read

Sri Lanka forex reserves down to US$1.6bn in November

Forex reserves are now about one month of imports

9 min read

Sri Lanka debt re-structuring: opinion divided among think tanks

Agreement that an outright default is damaging

3 min read

Sri Lanka Port City to allow crypto currency trading, no rupee tokens

There are a few checks and balances in this plan

3 min read

Sri Lanka monetary instability blamed on lack of industrialization

That money printing causes inflation is no longer 'fashionable'.

6 min read

Sri Lanka does not need to go on bended knees to outside agency over debt: Cabraal

Debt being re-structured through mutliple means

2 min read

Sri Lanka needs IMF, debt restructuring, CB should not subordinate core objective: Coomaraswamy

The central bank's role as the agency for public debt should not be subordinated to its core objectives

1 min read

Sri Lanka may raise rates 150bp in 2022, external caution: SCB Economist

External weakness, deficits weigh

2 min read

Sri Lanka central bank foreign debt exceeds reserves by US$1.2bn

The central bank owes the IMF on past loans and also a negative SDR allocation

2 min read

Sri Lanka rupee already depreciated, no bidding war with Hawala: CB Governor

We do not want to get into an auction sale with Hawala people

3 min read