Inflation ( CCPI)0.9% (May 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.39%
12M T-Bill Rate9.90%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.10% / 11.25%
Reserves $5.4Bn (May 2024)
Cum. Trade Deficit $1,229 Mn (March 2024 cumulative)
Cum. Fiscal DeficitLKR 2,320 Bn (Dec 2023)

Sri Lanka used USD 265Mn from reserves to maintain the Rupee so far in 2022

Exchange RateApr 15, 2022
Sri Lanka used USD 265Mn from reserves to maintain the Rupee so far in 2022
Sri Lanka has been trying to hold the Rupee at 200 per dollar till February, until CBSL decided to float it at first week of March. Due to the insufficient International Reserves and depleting FX inflows, monetary authorities had to let it go. CBSL had asked banks to sell 50% of their FX inflow to Central bank to mitigate the situation. But it was not sufficient to face the growing FX demand and debt payments. CBSL had purchased USD 536Mn from market, but had sold USD 800Mn resulting USD 265Mn net outflow from reserves in first three months of March 2022.


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