COLOMBO: The Sri Lankan rupee ended 0.8 percent firmer on Thursday as exporters converted dollars, fearing the local currency could appreciate heavily after a warning by the island nation's treasury secretary.

The Sri Lankan rupee rose more than 3 percent today as exporters sold dollars following the treasury secretary's threat to resume market interventions if the currency dropped beyond "tolerable" levels, Reuters reported.

By CT Smith Stockbrokers CBSL tightens its monetary policy for the second time in 2012 In its Monetary Policy Review for April, the Central Bank of Sri Lanka (CBSL) increased its repurchase rate and reverse repurchase rate by 25bps and 75bps to 7.75% and 9.75% respectively (w.e.f. end 5th April 2012) in order to further ...

Central bank Governor says country is targeting per capita income of $4,000 by 2015Ajit Nivard Cabraal is a man intimately associated with the economic development of Sri Lanka. Well before he became the Governor of the Central Bank of Sri Lanka, in 2006, Cabraal was the chief economic adviser to President Mahinda Rajapaksa, who was ...

The CBSL’s directive issued last year, which takes into account credit, market, operational and liquidity risk, is very much in line with the recommendations of the Bank of International Settlements (BIS), which recommends in particular capital adequacy for government banks, said internationally-renowned risk consultant and CEO/Principal of Independent Global Research Ltd. David Roden. Addre...

IPS: Most things in Sri Lanka are becoming expensive these days. In early February fuel prices were increased by margins ranging from eight to 49 per cent, with the all-important diesel, used widely in commercial transport and power generation, going up by 36 per cent. The Sri Lankan rupee

in the Sri Lankan Rupee (SLR), resulting in a sharp, and ...

Mar 25, Colombo: Dr. P. B. Jayasundera, Secretary to the Treasury expects the Sri Lankan rupee exchange rate with US dollar to stabilize at around Rs.125 in a 2-3 week time.

The Saudi Kingdom has offered financial aid worth SR 225 million (approximately Rs. 7.6 billion) for the upgrading of road networks in Sri Lanka. The draft agreement for the financial assistance was finalized in Riyadh on Monday during a meeting between the Vice Chairman of the Saudi Fund For Development (SFD) Yusuf Al-Bassam and Dr. ...

The Sri Lankan rupee hit a new low of around Rs.127.00 against the US dollar a while ago, currency dealers said

Performance has always been a buzz word in business circles. This time of the year is the typical time for a wave of performance appraisals, particularly in organisations where the appraisals are linked to the calendar year. There is a strong link between performance and perceptions. Today’s column will discuss the what, how and why ...

Peninsula, DOHA:  The Sri Lankan rupee which has been fast tumbling against the dollar is expected to recover soon, and might actually begin appreciating, says Sri Lanka’s Central Bank Governor Ajith Nivard Cabraal. The official said that the rupee now ruling at 120 a dollar will start

By Gayathri GeeganaarachchiIt is likely that the price of milk food and gas will go up in the coming days. The price of fuel went up around three weeks ago, and as a result the prices of all essential items too have gone up drastically -- while bus fares too were increased by 20 per cent.Milk food importing companies have requested the Consumer Affairs Authority (CAA) last week to permit a price i...

(Srilankamirror) - State intelligence has warned government authorities about a wave of public uprisings over economic hardships, ‘Sunday Lakbima’ reports. With the increase in the fuel prices and the depreciation of the Sri Lankan rupee, there will be serious issues with regard

and the depreciation of the Sri Lankan rupee. Import costs have gone up, according to them. The Consumer A...

A Sri Lankan Cabinet Minister today admitted that the country is facing economic difficulties, but added the issue is common for the entire world. Minister of Health Maithreepala Sirisena says it is in this backdrop the government had to take hard decisions such as raising fuel prices and imposing a fuel surcharge on electricity bills. Sirisena says ...

BMI’s prediction of a second devaluation of the Sri Lankan rupee played out on February 14, with the currency ending the day at LKR120.13/US$ – marking a 5.4% drop from when we called such a move in our online service on January 30. At one stage on February 15, the rupee diced with a record low

of the Sri Lankan rupee. He added that the price hike would take place after the next consignment of cement...

(Srilankamirror) - The Sri Lankan rupee opened weaker at 120.30/35 against the US dollar in the spot dollar market. It drifted lower as the foreign exchange market continued to look for direction but stocks opened stronger, LBO reports. Colombo All Share Index rose 1.6 percent

Sri Lanka’s Central Bank says the current developments taking place in the Forex market, which dealers describe as “volatile” is only a temporary development. The Bank says the recent depreciation of the Sri Lankan rupee seems to be a reaction of forex dealers, which it says are adjusting

(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...

The Central Bank of Sri Lanka recently unveiled its pioneering Sixth Strategic Plan – communicating in all transparency its plans for the forthcoming financial period – based on the theme ‘Raising the Bar’. The Sixth Strategic Plan, like its predecessors, takes root from the policy measures underscored in the ‘Mahinda Chinthana,’ and is formulated to ...

The Standard Chartered Bank (SCB) has opined the Central Bank’s forecast of $ 25 billion foreign inflow as “optimistic” given external headwinds whilst cautioning that pressure was mounting on the rupee given the rising import demand. This view along with weaker GDP forecast is contained in SCB's latest country update titled 'A challenging year ahead' ...

RAM Ratings Lanka has reaffirmed Tokyo Cement Company (Lanka) PLC’s long- and short-term corporate credit ratings of A and P2 respectively. The long term rating carries a stable outlook. The ratings are supported by its sizable market share, its healthy balance sheet, and the healthy debt coverage levels. The above positives are, however, moderated by ...