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 Rupee steady after experiencing wild swing in April

Exchange RateJun 30, 2020
Sri Lanka Rupee steady after experiencing wild swing in April
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Sri Lanka Rupee steady after experiencing wild swing in April. LKR lost the ground in April against USD due to the mounting risk of defaulting of Sri Lanka Sovereign Bonds. But CBSL successful in managing the exchange by implementing tight import controls and providing concession for FX inflows. CBSL became net buyer of FX in the month of May. Countries that able to manage the spreading COVID19 such as Vietnam, Sri Lanka seem to feel comfortable in managing exchange. Global investor, Mark Mobius says "Most emerging market currencies have been relatively stable in the crisis".

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