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)

Foreign exchange (USD) Trading volume plunged just after Sinhala & Tamil New Year Season

Exchange RateApr 23, 2024
Foreign exchange (USD) Trading volume plunged just after Sinhala & Tamil New Year Season

The average daily inter-bank trading volume, encompassing spot, tom, and cash transactions among commercial banks, notably decreased from a weekly average of USD 80 Mn to USD 29 Mn during the last week. Additionally, the LKR marginally weakened over the same period.

This decline in trading volume could be attributed to reduced market activity during the Sinhala & Tamil New Year season, coupled with extended weekends for both the market and the public sector. Such factors often lead to decreased liquidity and trading activity in financial markets, reflecting a temporary slowdown rather than a fundamental shift in market dynamics.

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