Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Sri Lanka CBSL has bought net USD 2,083Mn foreign currencies from the market for 2023

Exchange RateJan 13, 2024
Sri Lanka CBSL has bought net USD 2,083Mn foreign currencies from the market for 2023

CBSL has been buying FX from the market to build a healthy FX reserve level in Sri Lanka. Figures indicated that CBSL had purchased USD 2.083Bn, in 2023. But CBSL had been the net seller of USD 585Mn in the previous 2022.

CBSL has been intervening in the market from time to time to maintain the stability of the exchange rate and to control any unusual market behaviours. During the last four months, CBSL has bought USD 421Mn from the market without selling any FX to the market. This approach clearly shows that the CBSL is on target to achieve significant growth in FX reserves.

Disclaimer

Charts represents an assessment of the market environment as of the date indicated and it is subject to change; and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

The information presented does not take into consideration commissions, tax implications, or other transactions costs, which may significantly affect the economic consequences of a given strategy or investment decision. This document contains general information only and does not take into account an individual’s financial circumstances. An assessment should be made as to whether the information is appropriate in individual circumstances and consideration should be given to talking to a financial advisor before making an investment decisions.