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Wednesday September 27th, 2023
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“The Central Bank confirms a remarkable 34 percent growth in export revenue for the Gems and Jewellery Authority."
Vehicle importers complain that import LCs are not recognized internationally
"There cannot be another economic crisis from removing restrictions. A country cannot go on with import controls.”
Middle Eastern states with currency board like arrangements and liberal work visas were top sources of remittances
Cabinet agreed to postpone repeal of the simplified value added tax (SVAT) to April 1, 2025.
Sri Lanka Customs confiscates arecanut valued at 27,484,868 rupees.
To given them time to remit more money, the deadline has been extended to September 15, 2023
More than 500 million dollars worth of goods are exported under GSP+
A 'Platinum' category that had remitted over 24,000 dollars would get an extra 4,800 dollars
In 1Q 2023 goods exports and remittances were US$4,409mn US dollars and merchandise imports were US$2.998mn
Plans to lift import more import controls
Aggrieved parties may be able to go the Supreme Court to seek redress
Before the central bank started to mis-target rates monthly remittances ranged from US$500 to 600mn
Electricity tariffs were hiked to account for higher rupee costs of coal and liquid fuels
India and Sri Lanka can avoid using US dollars
| Latest | Last | |
|---|---|---|
| US Dollar | 330.2942 | 315.1016 |
| UK Pound | 429.0139 | 401.1871 |
| Euro | 372.1704 | 343.1959 |
| Aus Dollar | 227.2526 | 211.5951 |
| Yen | 2.3820 | 2.1908 |
| 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 |
| 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 |
| 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 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 13.93 | 14.00 |
| Gilt Repo | 13.50 | 14.00 |
| I-m SLIBOR | - | - |
The disease is also slightly spreading to other provinces in Sri Lanka
Sri Lanka slapped import controls in 2020 as the central bank printed money
"We're grateful for what India has done; and we see India rising and we want to rise together," he said.
"The only way to mitigate this is to increase dollar income and reduce outflows."
Egg prices jumped to as high as 70 rupees in December
International Green Week draws over 400,000 visitors
Advance payments are converted before goods are shipped at least by two banks
In November exports fell 17.9 percent to 994 million Us dollars
Expects to have the deal in operation from 1Q 2024
"A DDR that wipes out the primary dealers will seriously affect the ability of the government to raise funds"
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