(Bloomberg): Sri Lanka doesn’t need to further tighten monetary policy for now even though an increase in fuel and transportation costs and a weakening currency may stoke inflation, the head of the central bank said. The central bank’s rate increase earlier this month will have a “demand-driven impact” and help moderate inflation, its Governor Ajith ...

The Sri lankan rupee hit an all time low falling down to 120.10 SLR a Dollar today. The dip was due to the non interference of the Central Bank in...

(Srilankamirror) - The Sri Lankan rupee closed at 117.25/40 against the US dollar today, down from Friday's close of 115.20/30 in a second day of trading without Central Bank intervention. The rupee drifted lower in intra-day trading but recovered towards the end of the day, LBO reports

(Srilankamirror) - The depreciation of the Sri Lankan rupee is one reason for the increase in fuel prices, said opposition leader Ranil Wickremesinghe. Addressing a public rally in Ratnapura, he said the government should take responsibility for the high fuel prices. The present regime

By SulochanaRamiah MohanSri Lanka, though adamant not to float the Sri Lankan rupee, was last week compelled to bow  to the IMF demand that the Sri Lankan rupee be allowed to float if country wants the fourth tranche of the IMF loan, sources said. But when contacted, the Minister for International

(Srilankamirror) - The Sri Lankan rupee fell against the US dollar to below 115 rupees after the Central Bank stopped intervening on a specific price. This followed a 30 cent lowering of its band earlier in the day, LBO reported quoting dealers. The rupee fell from 114.30 to 114.60

COLOMBO — Sri Lanka said Tuesday it did not need the final tranche of a $2.6-billion IMF bailout thanks to the country's healthy foreign exchange reserves.   The loan was granted in 2009 by the International Monetary Fund just after the end of the country's bloody ethnic civil war. "The need is no longer there. Our (foreign currency) reserves are at fairly comfortable levels," Central Bank o...

their personal views and criticizing the devaluation of the Sri Lankan Rupee. It is with the approval ...

The main opposition UNP yesterday charged that the devaluation of the Sri Lankan rupee at the recent Budget has resulted in the country’s public debt burden increasing by a further Rs. 81 billion, the UNP said yesterday.

The main opposition UNP yesterday charged that the devaluation of the Sri Lankan rupee at the recent Budget has resulted in the country’s public debt burden increasing by a further...

Colombo (Srilankamirror) - IMF resident representative Koshy Mathai has said the devaluation of the Sri Lankan rupee was a good step. The measure should support the nation's export competitiveness and safeguard its reserves over the medium-term, he has told Reuters via email. "

Colombo (Srilankamirror) -The Ceylon Chamber of Commerce has supported the sudden devaluation of the Sri Lankan rupee saying it would boost exports. The CCC said in a statement the government's 2012 budget presented to parliament "maintains the consistent fiscal framework announced

The Sri Lankan Rupee weakened to Rs.114.15 against the dollar in the currency market after closing at Rs.113.90 yesterday

the Sri Lankan Rupee is a signal on moving towards a ...

The Sri Lankan rupee has appreciated. According to the Central Bank, the rupee has appreciated 0.96 percent against the Dollar. The Central Bank attributed this development to the increased foreign investment. Such investments for the first half of this year have reached 413 million US Dollars

Minister Basil Rajapaksa has said that the effort of the Government was to continuously safeguard the economic growth achieved after the victory over terrorism and accelerate it. Sri Lanka has achieved a higher economic growth after the military victory. Even a considerable growth has been recorded in the tourism sector. Minister Basil Rajapaksa said that ...

By Ashwin Hemmathagama National Insurance Trust Fund (NITF) was created by an Act of Parliament in the year 2006. A subsequent amendment, No 28 of 2007 has empowered NITF to accept compulsory reinsurance cession from local insurance companies. NITF has fixed the compulsory cession at 20% of the general insurance programmes of all insurance companies ...

The Central Bank says that the value of the Sri Lankan Rupee has appreciated. The Central Bank said this clearly indicates the growth achieved in Sri Lanka’s economy. The foreign exchange value of the Sri Lankan rupee had increased in comparison to the US Dollar. Latest statistics of the Central

COLOMBO, Sept 27 (Reuters) - The Sri Lankan rupee rose to a 21-month high on Monday after the IMF approved the fourth payout from a $2.6 billion loan.

The Central Bank has said that the remittances made by expatriate Sri Lankans have steadily increased. The foreign Exchange reserves have increased by 3.8 billion US dollars since the country was liberated from terrorism. Financial aid received by people in the North and East, as well as sustained inflows from the Middle East have contributed ...

by Anusha Ondaatjie Remittances sent home by Sri Lankan nationals overseas may rise to a record $3.8 billion in 2010, a central bank official said, adding that policy makers will ensure stability of the currency as the flows increase....

Sri Lankan Rupee closed firmer on 9th of March as banks sold Dollars to buy Rupees on hopes of...

Sri Lankan Rupee closed firmer yesterday as banks sold Dollars to buy Rupees on hopes of rise in interest rates due to Government’s high domestic borrowing that has resulted high budget deficit. The Rupee closed at 114.05/10 per Dollar, compared with Monday’s 114.15/18, as Banks bought