China approves $1.5 billion currency swap with Sri Lanka
(Reuters) – China has approved a 10 billion yuan ($1.54 billion) currency swap with Sri Lanka, a government spokesman in Colombo said on Wednesday. The deal will allow the island…
CB decides to hold policy rates steady
The Central Bank(CB) decided to hold its policy rates steady while reemphasizing its commitment to sustain the low-interest rate structure until the economy recovers. The Monetary Board of the CCB,…
Sri Lanka CB says controlling foreign debt will ‘no doubt’ require some austerity
(Reuters) : Sri Lanka’s central bank governor said on Wednesday lowering the country’s reliance on foreign debt will require some austerity, as Colombo attempts to shore up confidence in its…
Finance companies are permitted to lend up to 80% of the value in used motor vehicle purchases
The Central Bank (CB) decided to increase the loan to value ratio (LTV) of licensed finance companies up to 80 percent on auto loans in purchasing used passenger vehicles in…
Rupee to depreciate by 12% in 2021- First Capital
Sri Lanka’s First Capital Research expects LKR to depreciate approximately by 12 percent during this year. “With the weak foreign currency reserve position, high foreign currency debt repayment and a…
Central Bank Bars Banks from entering into new forward FOREX contracts
Sri Lanka’s Central Bank (CB) yesterday barred banks from entering into new forward foreign exchange contracts for three months with immediate effect to contain excess volatility in the foreign exchange…
Licensed Banks to decide on cash dividend payments After Completing 2020 Financial Statements Audit
The Central Bank (CB) says that licensed banks could pay cash dividends and licensed foreign banks could repatriate profits following the completion of the audit of their financial statements for…
Latest $200 million SLDB issuance undersubscribed
The latest $200 million issuance of Sri Lanka Development Bonds (SLDBs) closed undersubscribed on Tuesday with only bids received amounting to $62.64 million, the Central Bank (CB) data showed. The…
Central Bank orders banks to delay dividend payments
The Central Bank (CB) ordered the local banks to differ cash dividend payments and foreign banks to differ profit repatriation until their 2020 accounts have been audited. “Every licensed commercial…
Central Bank Holds Policy Rates Steady with plans to introduce priority sector lending targets
The Monetary Board of the Central Bank (CB) decided to maintain the policy rates at the current levels at the first Monetary Policy Review meeting held for the year. At…