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Benchmark share index rises

Sep 2, 2010 5:03:14 AM - itnnews.lk

Sri Lanka’s benchmark share index rose to a new record yesterday.

The Colombo Stock Exchange closed 0.57 percent firmer at a new all-time closing high of 5,690.29 points, after hitting a fresh intraday high of 5,719.19 points. The Index is Asia’s best performer in 2010 with a 68.6 percent gain. The turnover was at 2.7 billion rupees, around five times the 2009 daily average.

Meanwhile the Central Bank said that Sri Lanka’s foreign reserves surged to 5,731 Billion US Dollars in June 2010 when counting domestically arranged currency swaps. In May 2010 the Monetary Authority reported foreign reserves of 5,032 million Dollars. The reserves were equal to about 5.7 months of average imports during the past 12 months.

During the first half of this year, remittances from expatriate workers had increased 13.5 percent to 1,820 million US Dollars from a year earlier.