Notable
Around 700,000 Sri Lankans have left the country for foreign jobs legally in 27 months through March 2024
I do not think there will be huge volatility, based on the data that is available at the moment
The rupee sharply appreciated in March and early April
That is also more important, because the exchange rate will create price stability
The central bank bought US$245.3 from banks in January 2024 and US$239.5mn in February
Sri Lanka's central bank is operating deflationary monetary policy giving it full control of the exchange rate
Hopeful of meeting IMF debt requirements to complete second review
In the December 2023 quarter Sri Lanka recorded a current account surplus of 237 million US dollars
Food prices were down 3.6 percent over 18-months
Most food prices also down from 2022 levels
There is no exchange rate target
Sri Lanka cenbank is building reserves after they fell to from less than $500 million in latter part of 2021
An price control on lending rates removed
| Latest | Last | |
|---|---|---|
| US Dollar | 305.1018 | 305.3339 |
| UK Pound | 386.9523 | 387.2371 |
| Euro | 330.8712 | 332.1141 |
| Aus Dollar | 201.0018 | 201.4980 |
| Yen | 2.0266 | 2.0278 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 3.6453 | 3.5932 |
| Korea Won | 0.2342 | 0.2292 |
| Oman Rial | 780.3569 | 769.4973 |
| Saudi Riyal | 80.1114 | 78.9849 |
| UAE Dirham | 81.7952 | 80.6569 |
| pts | % | |
|---|---|---|
| S&P SL20 | 2,573.80 | 1.00% |
| CSE All Share | 9,073.41 | 0.65% |
| Turnover Rs million | 1,591,766,524.95 | 1,029,335,694.32 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 21.72 | 21.79 |
| 6-m bill | 19.55 | 20.31 |
| 12-m bill | 17.72 | 19.28 |
| 5-yr bond | 21.00 | 22.53 |
| 8-yr bond | 19.42 | 20.55 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 13.93 | 14.00 |
| Gilt Repo | 13.50 | 14.00 |
| I-m SLIBOR | - | - |
This can either be swaps with domestic banks, but also swaps with other central banks
The salary hike was initially defended on the basis of central bank independence
The Central Bank's salary hike has angered public sector employees
The central bank's accountability to parliament established
Board approval is subject to completing some prior actions and more progress on debt restructuring
A ceiling on Treasury guarantees were raised after the last IMF review
The extension takes place in the context of the still uncertain global economic environment
The central bank made large valuation losses in September
Official remittances are at a five month low
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