Markets
Gold Price Update in Sri Lanka – November 11, 2024
As of November 11, 2024, the price of 22-carat 8 grams (1 pawn) of gold in Sri Lanka is Rs. 202,800, while 1 gram costs Rs. 25,350. The 24-carat 8 grams is priced at Rs. 221,150. Gold prices vary depending on global and local economic factors.
Sri Lanka Rupee Weakens to 292.60/70 Against Dollar, Bond Yields Fall
Sri Lanka’s rupee opened at 292.60/70 to the US dollar on Monday, slightly weaker from Friday. Bond yields showed mixed trends, with some decreasing. An upcoming Treasury bond auction on November 12 will issue Rs. 85,000 million in bonds. Colombo’s stock market saw slight gains with a turnover of 31 million rupees.
Economics
Private Sector Credit Demand Slows in September, But Remains Resilient
Private sector credit demand slowed in September but grew by Rs. 89 billion (8.9% YoY) in October, down from Rs. 135 billion in August. As of October, outstanding credit totaled Rs. 7.796 trillion. Analysts note strong underlying demand, supported by lower interest rates and expectations of economic recovery.