An Echelon Media Company
Saturday May 18th, 2024

Sri Lanka extends import taxes on cereals, edible oils, fruits

Sri Lanka has a history of to promote import substitution due to economists printing money to suppress rates

May 21, 2023 2 min read

Sri Lanka hosts the Indian Travel Agents Association convention to boost tourism

The 68th annual convention of Travel Agents Association of India (TAAI) is set to be held from July 6 to 9, 2023.

May 20, 2023 2 min read

Sri Lanka ad hoc peg closes at Rs306.50/307.00 to dollar, kerb at Rs308/310

Over the week the rupee has been allowed to strengthen from 313.10/40 to the US dollar last Friday.

May 19, 2023 3 min read

Sri Lanka to intervene in transferring benefit of rupee appreciation to consumers

“The dollar falling and the rupee rising means the benefit must definitely go to the people,” he said.

May 19, 2023 1 min read
Sri Lanka midnight sugar tax goes against IMF governance reforms: Harsha

Where suddenly decisions are taken, and sometimes inside information goes to the others

Sri Lanka suffers over $100 mln foreign outflow from govt bonds after rupee rise, rate cut

Sharp rupee gain has reverse and the currency is now in a falling trend

Sri Lanka discusses energy security, jobs, investment with UAE

Sri Lanka has been trying to woo investments and secure oil credit from many Middle Eastern countries.

December 7, 2021 1 min read

Sri Lanka approves US$2bn in projects up to Nov, FDI US$400mn to June: BOI

Out of that the foreign investment component was 1.6 billion US dollars

December 7, 2021 1 min read

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

Agreement that an outright default is damaging

December 7, 2021 3 min read

Sri Lanka should draw up own program and negotiate with IMF: de Mel

Sri Lanka needs a credible plan to get out

December 7, 2021 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

December 7, 2021 3 min read

Sri Lanka gas explosion probe says blame lies largely with faulty accessories

The committee urged the public to refrain from testing for gas leaks using unsafe methods.

Mahadiya Hamza
December 6, 2021 3 min read

Sri Lanka’s biz leaders bemoan forex shortages amid money printing

The dollar shortage is obviously having an effect on the businesses

December 6, 2021 3 min read

Sri Lanka monetary instability blamed on lack of industrialization

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

December 6, 2021 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

December 6, 2021 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

December 6, 2021 1 min read
Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 305.1018 305.3339
UK Pound 386.9523 387.2371
Euro 330.8712 332.1141
Aus Dollar 201.0018 201.4980
Yen 2.0266 2.0278
Source: Central Bank/Indicative
Latest Last
Indian Rupee 3.6453 3.5932
Korea Won 0.2342 0.2292
Oman Rial 780.3569 769.4973
Saudi Riyal 80.1114 78.9849
UAE Dirham 81.7952 80.6569
Source: Central Bank/Indicative
pts %
S&P SL20 2,573.80 1.00%
CSE All Share 9,073.41 0.65%
Turnover Rs million 1,591,766,524.95 1,029,335,694.32
Source: CSE
Latest Last
3-m bill 21.72 21.79
6-m bill 19.55 20.31
12-m bill 17.72 19.28
5-yr bond 21.00 22.53
8-yr bond 19.42 20.55
Source: Central Bank/Indicative
today yesterday
Overnight Money 13.93 14.00
Gilt Repo 13.50 14.00
I-m SLIBOR - -
Source: Central Bank/Indicative

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

External weakness, deficits weigh

December 6, 2021 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

December 6, 2021 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

December 5, 2021 3 min read

Sri Lanka unleashes money laundering unit, police, on unofficial remittances

Last mile Hawala deliveries to be tracked if made through the banking system

December 4, 2021 2 min read

Sri Lanka makes progress on US$1.9bn credit lines, swap from India during Finance Minister visit

Modalities to realize these objectives would be finalized early, within a mutually agreed timeline

December 4, 2021 2 min read

Sri Lanka CB starts outright bill sales sans spot rupee market

Reverse repo operations continue to climb

December 4, 2021 2 min read

Sri Lanka gets 7 responses to securitize remittance surrenders

These responses are being reviewed to determine the most suited modality

December 4, 2021 2 min read

More Sri Lankans switch to Hawala as money printing drive parallel exchange rates

I don’t mind losing 2-3 rupees by sending my salary in dirham to support the country. But the gap is 10-11 rupees.

Shihar Aneez
December 3, 2021 8 min read

China embassy takes swipe at Sri Lanka over halting power projects near India

There is already in a diplomatic spat over a rejected Chinese fertilizer shipment

December 3, 2021 2 min read

Sri Lanka borders open in peak tourist season amid forex crisis, but caution advised

During these lockdowns, many people complained that they do not have a away to live

Chanka Jayasinghe
December 3, 2021 4 min read