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Wednesday June 29th, 2022
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SLPA has waived 20 mn USD of demurrage for importers who have been unable to clear goods in time
Special commodity levies of up to Rs2000 on yoghurt, butter
Finance Ministry asks not to import excessively
The rupee fell steeply in 2022 after two years of money printing
Sri Lanka's rubber products can grow up to 30% in US dollar revenue if uninterrupted power supply ensured
"We see that there is a large volume of money going through the Hawala/Undiyal systems
The FTA between the two countries have not taken place since 2017 after Sri Lanka asked for more time to decide
They are trying but so far no money has come
There is an understanding that the ordered stocks will be purchased
We have to act before the economy falls off a complete precipice
Exports also up
Forex shortages are a problem associated with pegged exchange rates which do not allow short term rates to float
India is also recognised as a key investment partner of Sri Lanka
A transparent process will be followed
About US$200mn expected to be allocated for medicines
| Latest | Last | |
|---|---|---|
| US Dollar | 367.2255 | 367.4039 |
| UK Pound | 452.1949 | 452.7893 |
| Euro | 389.8785 | 389.4918 |
| Aus Dollar | 256.3767 | 256.4772 |
| Yen | 2.7277 | 2.7394 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 4.5882 | 4.6034 |
| Korea Won | 0.2797 | 0.2807 |
| Oman Rial | 934.7931 | 935.8320 |
| Saudi Riyal | 95.8864 | 95.9981 |
| UAE Dirham | 97.9826 | 98.0915 |
| pts | % | |
|---|---|---|
| S&P SL20 | 2,336.44 | -1.88% |
| CSE All Share | 7,451.91 | -1.87% |
| Turnover Rs million | 815,332,807 | 1,423,365,059 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 19.88 | 19.95 |
| 6-m bill | 20.76 | 20.17 |
| 12-m bill | 21.12 | 21.81 |
| 5-yr bond | 19.79 | 19.87 |
| 8-yr bond | 20.46 | 20.14 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 14.50 | 14.50 |
| Gilt Repo | 14.50 | 14.50 |
| I-m SLIBOR | - | - |
Finalising the proposed FTA between Sri Lanka and China would immensely benefit the local market and products
Milk tea -- a mix of hot, strong tea with powdered and usually sugar -- is a favourite beverage in Sri Lanka.
A 400g pack will be sold at 790 rupees while a 1kg pack will be sold at 1,945 rupees.
US$ 1 billion credit line signed for essential commodities
India has promised a billion US dollar credit line for imports
In the 9 months to September 2021, gross trade credits went up US$478mn
Sri Lanka's dollar shortage has forced its central bank to impose ban of several imports and seek credit lines
Many patients tempted to buy drugs in small amount "without taking them for the prescribed period of time." - MCPA
Strategic Development Law projects may be given exemptions
Some exporters have also started to convert, market participants said
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