Notable
Excess liquidity remains
Since September 2022 food prices are down 5.79 percent
That is also more important, because the exchange rate will create price stability
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
Fed would continue to sell-down mortgage backed securities
Consumer Price Index down for the past three months
The financial account was 1.3 billion dollars in deficit in 2023
We will take it to 270. Then you can buy more for the rupee
In our expectation it will remain around 4-5 percent in the next 12 to 18 months
Para tariffs to be phased out
Gross official reserves went up by 431 million US dollars in March as debt was repaid from domestic savings
| 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 | - | - |
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
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