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)

CBSL was a net purchaser of USD 240Mn FX from the market in February

Exchange RateMar 22, 2024
CBSL was a net purchaser of USD 240Mn FX from the market in February

Central Bank of Sri Lanka (CBSL) has been active in the foreign exchange (FX) market, purchasing USD 248.5 Mn and selling USD 9 Mn in February 2024. This resulted in a net FX purchase of USD 485 Mn so far this year. Additionally, CBSL was a net purchaser of FX last year as well, totalling USD 2,083 Mn.

The improved worker remittances, tourism, and lower imports have contributed to leaving more FX in the market, which supports a stronger domestic currency (LKR).

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.