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The Sri Lankan rupee is likely to strengthen toward the end of the year as import volumes cool after months of depreciation, Sri Lanka’s central bank governor said.
The Sri Lankan rupee is likely to strengthen toward the end of the year as import volumes cool after months of depreciation, Sri Lankas central bank governor told Dow Jones Newswires.
Standard Chartered Bank has revised Sri Lanka’s credit outlook to stable from positive and is advising bond investors to await the conclusion of Sri Lanka’s $ 1 billion Sovereign issue prior to getting involved in the country’s debt market opportunities. This advise is contained in SCB’s latest Asian sovereign credit coverage. “While we believe that ...
Laugfs Gas PLC and its subsidiaries having recorded a profit after Tax of Rs. 942 million as per the un-audited financial statements for the year ended 31 March 2012, yesterday announced a payment of first and final dividend of Rs. 1.50 per share for both Ordinary Voting and Non- Voting shares held. Chairman Laugfs Gas ...
By Cassandra Mascarenhas The third and final day of the Sri Lanka Economic Summit 2012 organised by the Ceylon Chamber of Commerce commenced with a plenary session titled ‘Skills and Productivity to Compete in the Global Market,’ which discussed the initiatives that are underway and aimed to identify additional steps required to improve the quality ...
Reuters: Sri Lanka’s current monetary policy rates are appropriate despite a spike in inflation last month due to supply constraints, the Central Bank said on Tuesday, a day ahead of its July monetary policy review announcement. The Central Bank has kept both repurchase and reverse repurchase rate at two-year highs of 7.75 percent and 9.75 ...
By Cheranka Mendis The tea industry’s export target of achieving revenue of US$ 5 billion from the present US$ 1.5 billion by 2020 is an overly ambitious one that is likely to be impossible to achieve, Colombo Tea Traders Association Chairman Jayantha Keragala said on Friday at the association’s 118th AGM. Keragala stated that the ...
The Sri Lankan rupee edged down on Monday in thin trade on importer dollar demand, dealers said. The rupee closed at 133.80/90 to the dollar, slightly weaker than Friday’s close of 133.50/70. It hit another in a series of fresh record lows on Thursday, at 134.30. “Still we see pressure
Reuters: The Sri Lankan rupee edged higher on Friday a day after it hit a record low, as exporters and a state bank sold dollars to buy the local currency in thin trade, dealers said. The rupee closed at 133.50/70 to the dollar, a tad firmer from Thursday’s close of 133.80/90. It hit a fresh ...
The Sri Lankan rupee hit a fresh record low of 134.00 to the dollar on Wednesday on importer demand for the U.S. currency, sparked by worries the local unit will weaken further after banks started quoting spot prices again for the local unit.
The Sri Lankan rupee hit a fresh record low of 134.00 to the dollar on Wednesday on importer demand for the U.S. currency, sparked by worries the local unit will weaken further after banks started quoting spot prices again for the local unit.
The Sri Lankan rupee market came to a standstill on Tuesday as banks stopped quoting spot prices against the U.S. dollar, after what dealers said was a request from the central to stop trading the ailing currency beyond the 133 level.
Reuters: The Sri Lankan rupee market came to a standstill on Tuesday as banks stopped quoting spot prices against the US dollar, after what dealers said was a request from the central to stop trading the ailing currency beyond the 133 level. “The whole market is distorted as central bank does not like to see ...
The Sri Lankan rupee market came to a standstill on Tuesday as banks stopped quoting spot prices against U.S. dollar, after what dealers said was a request from the central to stop trading the ailing currency beyond the 133 level.
The Sri Lankan rupee market came to a standstill on Tuesday as banks stopped quoting spot prices against U.S. dollar, after what dealers said was a request from the central to stop trading the ailing currency beyond the 133 level. .
Reuters: The Sri Lankan rupee traded at a near record low on Monday in thin trade and many banks stopped quoting spot prices. The rupee traded at 132.90 to the dollar, with a state bank selling dollars at that level, traders said. The rupee hit a record low of 133.60 on June 12. Five dealers ...
Sri Lankan Rupee is expected to firm up later this year, while treasury yields could creep up on fiscal slippages, a report said, as the central bank looks for ways to tighten monetary policy.
Jun 25, Colombo: The Sri Lankan rupee is expected to appreciate to Rs 128 against the dollar in the latter half of the year despite some short-term problems, according to a recent report.
Despite several short-term challenges, the Sri Lankan rupee may appreciate to Rs 128 against the dollar over the course of the third and fourth quarters of this year, according to a report from Standard Chartered.
Reuters: The Sri Lankan rupee fell to a record low of 133.60 against the dollar on Tuesday on importer demand for the US currency as an IMF delegation went into a sixth day of discussions on the last tranche of a $2.6 billion loan. “The highest trade was done at 133.60 to the dollar, though ...
The Sri Lankan rupee fell to a record low of 133.60 against the dollar on Tuesday on importer demand for the U.S. currency as an IMF delegation went into a sixth day of discussions on the last tranche of a $2.6 billion loan.
The Sri Lankan rupee fell to a record low of 133.60 against the dollar today on importer demand for the U.S. currency as an IMF delegation went into a sixth day of discussions on the last tranche of a $2.6 billion loan.
The Sri Lankan rupee fell to a record low of 133.60 against the dollar on Tuesday on importer demand for the U.S. currency as an IMF delegation went into a...
By Damien The Secretary to the treasury Dr. P.B Jayasundera recently made statement that the country is wasting the foreign currency on things that can be made in this country. I would like to add to this by stating that as a country we should have clear targets and policies that are aimed at both ...
Reuters: The stock market rose more than one per cent on Friday with retail and foreign investors buying shares in thin volumes in an overall skittish market concerned about a weak Sri Lankan Rupee and the outlook for interest rates. The main index gained 1.1 per cent, or 53.03 points, to 4,885.18, its highest since ...
Chennai: Last year, Lanka Ashok Leyland began a unique selling proposition that was meant as much to help a growing economy as to enhance sales. The company, a joint venture of Ashok Leyland Ltd. in Sri Lanka, volunteered to support the Government of Sri Lanka by offering 500 buses to the Sri Lanka Transport Board ...
Ceylon Grain Elevators PLC’s Net profit during the first quarter of the year 2012 has seen a massive drop compared with the same period of last year owing to high cost of sales and also Exchange losses. Issuing its interim financial results, the firm says, net profit during the first quarter of this year recorded a ...
With the Sri Lankan rupee made to float against the US$ and the Central Bank of Sri Lanka (CBSL) imposing restrictions on commercial banks on lending has caused much concern among the general public.
Dialog Axiata PLC announced yesterday that the depreciation of the SrI lankan Rupee relative to the USD by 12.4% QoQ, resulted in the provisioning of a non-cash translational Foreign Exchange loss of Rs 2.1Bn, leading to the Dialog Group recording a Net loss of Rs 531Mn for Q1 2012. andnbsp;
Still recovering from decades of civil war, Sri Lanka has attracted some private equity interest but firms have found it hard to rally LP support for the country PE Asia: Sri Lanka’s golden sandy beaches lie not 50 kilometres from India’s closest point, but the distance between the two countries’ private equity markets is ...