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Monday November 9th, 2026
Bellwether

Sri Lanka should sell floating rate bonds to balance long term risks

True undated securities may be too ambitions but a start could be made with 5 to 10 year securities

May 19, 2025 8 min read

Sri Lanka 'single' policy rate signals interbank rates to stay up

Sri Lanka does not actually have a single policy rate like the Bank of England now

April 29, 2025 14 min read

How Taiwan avoided Sri Lanka's fate to become an export powerhouse

By the 1950s academics in US and UK had rejected economics of Hume, Ricardo and Smith, becoming branches without a tree

April 21, 2025 11 min read

Sri Lanka faces default risks after abandoning scarce reserve system

There are several red flags and one green one

April 14, 2025 13 min read
Will Sri Lanka's central bank do a Dudley to Anura with rupee depreciation?

Unless nipped in the bud, currency depreciation will lead to political instability

Sri Lanka need not be a forex beggar nation, Treasury should charge dollar taxes

The priviledge of 'Government Acceptance' should be ended to stop the next default

Sri Lanka should be careful in over-relying on GFN at the expense of stability: Bellwether

Countries where inflationists cannot engage in macro-economic policy with money printing have low debt

Bellwether
September 11, 2023 7 min read

Sri Lanka interest rates are dictated by the IMF reserve target, not inflation

It is a shame that country with a 20-pct savings rate cannot maintain reserves and has to depreciate the currency

Bellwether
August 14, 2023 15 min read
1

Sri Lanka legislators should deny high inflation goal independence to the central bank

If parliament rubber stamps a 4-6-pct inflation target, a second default is more certain

Bellwether
July 31, 2023 12 min read

Sri Lanka central bank will be unaccountable as long it can punish victims

The new central bank goal and objective are a personification of the impossible trinity of monetary policy objectives

Bellwether
July 12, 2023 10 min read

Sri Lanka can cut rates now, keeping them down as credit picks up will hit rupee: Bellwether

Reserves can be collected by impoverishing the poor, or by taking in their savings

Bellwether
July 5, 2023 7 min read
1

Why is Sri Lanka's rupee appreciating?

Sri Lanka rupee appreciation explained

Bellwether
June 2, 2023 15 min read
2

Sri Lanka's collapse in new sovereign default wave is not really China's fault: Bellwether

Mass sovereign default episode in the 1980s also followed a decade of bad money from the Fed

Bellwether
May 2, 2023 15 min read
1

Sri Lanka budget support IMF loans show worrying policy confusion : Bellwether

Converted budget support loans and conflicting PCs can lead to new external instability, discredit and derail reforms

Bellwether
April 18, 2023 13 min read
1

Sri Lanka tables controversial draft monetary law with multiple anchors

The new law appears to have brought back policy conflicts dropped in a previous amendment

Bellwether
March 9, 2023 12 min read

Sri Lanka set to continue 73 years of monetary instability with pseudo inflation targeting law

The inclusion of extensive macro-prudential laws is an admission that money is bad

Bellwether
March 1, 2023 12 min read
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Latest Last
US Dollar 331.7485 330.8514
UK Pound 443.7468 438.3450
Euro 372.5204 371.0168
Yen 2.0969 2.0916
Aus Dollar 233.0533 231.1659
Source: Central Bank/Indicative
Latest Last
Indian Rupee 3.4948 3.4202
Korean Won 0.2499 0.2479
Oman Rial 861.6397 859.3320
Saudi Riyal 88.4403 88.0955
UAE Dirham 90.3209 90.0766
Source: Central Bank/Indicative
pts %
S&P SL20 5,656.91 -0.43%
CSE All Share 19,927.30 -0.28%
Turnover Rs 1457.79 million 1193.67 million
Source: CSE
Latest Last
3-m bill 7.61 7.84
6-m bill 7.91 8.26
12-m bill 8.23 8.3
3-yr bond 9.24 9.25
5-yr bond 9.82 9.56
8-yr bond 10.50 10.48
Source: Central Bank/Indicative
today yesterday
Overnight Money 7.70 7.69
Gilt Repo 7.74 7.72
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka ports, airports made essential services

A strike planned on March 01

February 28, 2023 1 min read

IMF should approve Sri Lanka deal, devise bi-lateral debt-restructuring clause

IMF should stop the promotion of impossible trinity regimes with spurious claims to monetary policy independence

Bellwether
February 28, 2023 12 min read

How Sri Lanka rejected Singapore monetary advice and politicians, people paid the price

Call from Goh, Shenoy to provide sound money discarded in favour of depreciation, flexible regimes

Bellwether
February 9, 2023 14 min read
2

Sri Lanka central bank caught between peg and hard place

Care should be taken to make sure that excess liquidity does not re-emerge from fictitious capital

Bellwether
January 19, 2023 8 min read

Sri Lanka's central bank crisis and John Exter's about face on hard pegs: Bellwether

In 1968 with Bretton Woods soft-peg hanging on a thread, advantages of currency board had become clear

December 15, 2022 7 min read
1

Sri Lanka's tragedy and the lost wisdom of D S Senanayake on money printing

That BOP deficits and reserve losses are caused by money printing is now hidden and victims are blamed

Bellwether
October 24, 2022 9 min read
1

Sri Lanka rates elevated amid failed float and DDR fears

Fear of a DDR/IFR event drive rates even higher

Bellwether
September 19, 2022 13 min read

Sri Lanka is wrong to scapegoat expat workers over Undiyal: Bellwether

Indian billion dollar credit line also works Undiyal fashion

Bellwether
July 25, 2022 6 min read
1

Sri Lanka, world's poor suffer from Fed's accidental discovery of OMO: Bellwether

It is through open market operations that money is printed to mis-target interest rates

Bellwether
June 15, 2022 13 min read
1

Sri Lanka's central bank needs accountability and restraint, not independence: Bellwether

The absolute discretion to print money through flexible inflation targeting cum output gap targeting has to be blocked

Bellwether
June 1, 2022 12 min read