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Thursday September 29th, 2022
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"US-Sri Lanka bilateral trade already supports more than 180,000 workers supplying exports to the US."
These are temporary measures
Unjustified protectionism has created a monopoly for a few players with dire consequences on an entire industry
Companies that do not comply may face lose German business partners
The Greater Mekong Chamber deals with East Asian countries
Toilet paper allowed, squatting pans banned
Finance Ministry asks not to import excessively
The rupee fell steeply in 2022 after two years of money printing
CBSL would like to reassure its commitment to ensuring foreign exchange within the banking system for food
Medical supplies also send to the Suwaseriya ambulance service
Forex shortage disrupt energy supplies to industries
Delays in banks releasing dollars could spoil food
Non-oil imports fell 17.7 percent to 1,299.1 million US dollars in March 2022
Food suppliers have been willing to extend credit to local importers due to strong relationships spanning generations
Tourism receipts estimated at US$174mn up from US$9mn last year
The Negative Outlook reflects the deteriorating operating conditions for consumer-durable retailers
| Latest | Last | |
|---|---|---|
| US Dollar | 369.9235 | 369.9235 |
| UK Pound | 417.3920 | 417.3688 |
| Euro | 365.4949 | 365.1473 |
| Aus Dollar | 247.2916 | 245.9917 |
| Yen | 2.6166 | 2.5700 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 4.4750 | 4.5225 |
| Korea Won | 0.2575 | 0.2576 |
| Oman Rial | 942.5852 | 942.5852 |
| Saudi Riyal | 96.4518 | 96.4518 |
| UAE Dirham | 98.7994 | 98.7994 |
| pts | % | |
|---|---|---|
| S&P SL20 | 3,203.01 | -0.87% |
| CSE All Share | 9,964.80 | -0.36% |
| Turnover Rs million | 3,017,534,901 | 4,958,500,230 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 30.31 | 30.81 |
| 6-m bill | 28.51 | 28.66 |
| 12-m bill | 28.26 | 28.78 |
| 5-yr bond | 25.30 | 25.04 |
| 8-yr bond | 26.01 | 25.76 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 15.50 | 15.50 |
| Gilt Repo | 15.50 | 15.50 |
| I-m SLIBOR | - | - |
"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
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