Sri Lankan rupee appreciates by nearly 20% aginst USD
As of last As per the Central Bank data, the buying rate of a US dollar was Rs.295.62 while the selling rate was Rs.305.82 according to the Central Bank. In addition,…
Sri Lanka’s Central Bank Withdraws Proposed additional incentive scheme for remittances and export earnings
Following the decision to float the exchange rate of the Rupee, the Central Bank of Sri Lanka (CBSL) announced the decision to withdraw the proposed scheme for additional incentives for remittances…
Sri Lanka’s Central Bank Removes interest rate caps on forex deposits
The Central Bank of Sri Lanka (CBSL) has removed the interest rate caps imposed on foreign currency deposit products of licensed commercial banks and the National Savings Bank following its…
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…