Inflation ( CCPI)35.3% (April 2023)
GDP-12.4% (4Q 2022)
Unemployment4.8% (4Q 2022)
3M T-Bill Rate25.60%
12M T-Bill Rate22.97%
2Y T-Bond Rate29.25%/ 30.00%
4Y T-Bond Rate27.25% / 27.35%
USD/LKR297/298
Reserves $2.75Bn (April 2023)
Cum. Trade Deficit $862Mn (March 2023)
Cum. Fiscal DeficitLKR 2,300 Bn (Dec 2022)

Sri Lanka to safeguard foreigners from FX risk up to 2 years

Exchange RateSep 23, 2020
Sri Lanka to safeguard foreigners from FX risk up to 2 years
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Sri Lanka’s cabinet of ministers had approved swaps of up to two years to cover foreign exchange risks of investors in rupee bonds. During the last five years, foreigners were pulling out money from the capital market, especially on LKR bonds. Long positions on many Asian currencies have sharply raised. Reuter report says "Long bets on the Chinese yuan, South Korea’s won, Singapore’s dollar, and the Malaysian ringgit were all raised to their highest since early 2018." But several EM currencies (Argentina, Russia, Brazel, South Africa) are having tough time.

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