An Echelon Media Company
Friday July 1st, 2022
Monetary

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

Forex reserves are now about one month of imports

December 8, 2021 9 min read
2

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

Agreement that an outright default is damaging

December 7, 2021 3 min read
2

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

There are a few checks and balances in this plan

December 7, 2021 3 min read
2

Sri Lanka monetary instability blamed on lack of industrialization

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

December 6, 2021 6 min read
2
Sri Lanka rupee quoted at 280/290 to the US dollar

Commercial banks selling dollars at 285 rupees

Sri Lanka reserve sales for imports total US$990mn by Feb 2022

Net interventions reduce in February 2022, though goods shortages worsen

Sri Lanka's central bank gives Rs28bn loans from Rs120bn quasi-fiscal Coronavirus re-finance

Sri Lanka's central bank said it had approved 28 billion rupees of subsidized credit to be issued from commercial banks ...

June 25, 2020 3 min read

Sri Lanka's Senior Citizens' incomes will take a hit as interest rates set to fall steeply - Economi...

Sri Lanka’s hundreds of thousands of Senior Citizens who have invested their lives’ savings in Fixed Deposits and ar...

Arjuna Ranawana
June 18, 2020 3 min read

Sri Lanka excess liquidity soars to Rs223bn amid rupee fears

Sri Lanka's excess liquidity in money markets soared to a historic high of 223 billion rupees after the statutory reserv...

June 18, 2020 4 min read

Sri Lanka to start more credit schemes with 1.0-pct central bank money

Sri Lanka's central bank said it will issue more new money to banks at 1.0 percent to give loans under credit schemes wh...

June 16, 2020 3 min read
1

Sri Lanka cuts reserve ratio by 2.0-pct, injects Rs115bn into banks

Sri Lanka has cut the statutory reserve ratio (SRR) reducing the share of deposits that banks have keep in the central b...

June 16, 2020 4 min read

Sri Lanka President slams central bank over Rs150bn quasi-fiscal re-finance

Sri Lanka's President Gotabaya Rajapaksa has slammed central bank over not issuing 150 billion rupees of new money for b...

June 16, 2020 6 min read

Arrest warrants issued against directors of ETI Finance Ltd.

A Colombo Magistrate has issued warrants for the arrest of the Directors of Edirisinghe Trust Investments Finance Ltd., ...

June 16, 2020 2 min read

Sri Lanka private credit tumbles in April 2020, more money printing

Sri Lanka's private credit has tumbled in April 2020 to 13.4 billion rupees from a spike to 120 billion rupees in March ...

June 15, 2020 3 min read

Sri Lanka foreing reserves in May 2020 US$6.4bn, drops $686mn

Sri Lanka's forex reserves dropped 686 million US dollars to 6,493 million US dollars in May 2020 from a month earlier,...

June 14, 2020 3 min read

Sri Lanka central bank not yet trippled Zimbabwe style quasi-fiscal facility

Sri Lanka's central bank has not yet tripled a re-finance (printed money) facility to 150 billion rupees (about 800 mill...

June 12, 2020 3 min read
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Latest Last
US Dollar 355.7601 367.2255
UK Pound 430.0380 452.1949
Euro 370.4145 389.8785
Aus Dollar 243.4459 256.3767
Yen 2.5919 2.7277
Source: Central Bank/Indicative
Latest Last
Indian Rupee 4.5623 4.5882
Korea Won 0.2773 0.2797
Oman Rial 934.7364 934.7931
Saudi Riyal 95.9138 95.8864
UAE Dirham 97.9767 97.9826
Source: Central Bank/Indicative
pts %
S&P SL20 2,334.36 -0.68%
CSE All Share 7,342.33 -0.32%
Turnover Rs million 785,395,580 815,332,807
Source: CSE
Latest Last
3-m bill 19.88 19.95
6-m bill 20.76 20.17
12-m bill 21.12 21.81
5-yr bond 19.79 19.87
8-yr bond 20.46 20.14
Source: Central Bank/Indicative
today yesterday
Overnight Money 14.50 14.50
Gilt Repo 14.50 14.50
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka import controls, Covid-19 cargo logjam hit apparel exporters

Sri Lanka's apparel exporters are facing difficulties in obtaining essential items for manufacturing due to import contr...

Mahadiya Hamza
June 8, 2020 5 min read

Sri Lanka financial system strong, will prosecute those spreading wrong information: CB Governor

Sri Lanka's banking system is strong despite a rise in bad loans and the central bank will use all tools to maintain fin...

June 7, 2020 7 min read

SJB asks Auditor-General to look into government's "unauthorized expenses"

The opposition Samagi Jana Balavegaya has written to the Auditor General pointing out what they term as “three instanc...

May 26, 2020 1 min read

Under fire Sri Lanka central bank defends money printing

Sri Lanka's central bank defended its money printing, which led to forex shortages and fears of repaying foreign debt le...

May 24, 2020 9 min read

Sri Lanka President requests US$1.1bn forex swap from India, invites port investment

Sri Lanka's President Gotabaya Rajapaksa has requested a 1.1 billion foreign exchange swap from India and also invited a...

May 24, 2020 2 min read

Sri Lanka central bank profits plunge in 2019 amid monetary stability

Profits at Sri Lanka's central bank plunged 60 percent to 55 billion rupees in 2019 from 137 billion rupees in 2018 as t...

May 22, 2020 2 min read
1

Sri Lanka policy incoherence hurting rating, potential lenders: Fitch

The lack of a coherent policy framework is hurting the sovereign rating and also potential lenders who may want to finan...

May 18, 2020 1 min read

President hangs tough over ban on Ethanol imports

President Gotabaya Rajapaksa is saying his decision to ban the import of Ethanol will stand and he “will not rescind t...

Arjuna Ranawana
May 15, 2020 2 min read

Sri Lanka private credit slow in February 2020

Sri Lanka's private credit picked up to 25 billion rupees in January 2020, from just 0.3 billion rupees in December, whi...

May 9, 2020 1 min read

Sri Lanka forex reserves drop US$353mn to US$7.2bn in April

Sri Lanka's foreign reserves have dropped 353 million US dollars to 7,179 million US dollars, official data show, after ...

May 8, 2020 2 min read
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