A recent report highlights that the Maldives banking system is grappling with 6.7 billion rufiyaa in excess liquidity, a legacy of money printing during the Covid-19 pandemic. This surplus liquidity is now being converted into loans, which is putting pressure on the country’s currency peg. According to Edition.mv, an online news portal, the Maldives Monetary
On Monday, the Sri Lankan rupee appreciated, opening at 298.80/299.10 against the US dollar, according to market dealers. This marks a strengthening from its previous close of 299.20/60 on Friday. In the bond market, longer-tenor bonds saw a rise in yields. Notably, the bond maturing on 15th December 2026 was quoted at 11.00/05 percent, a
Sri Lanka’s rupee opened slightly weaker on Wednesday, trading at 300.30/80 against the US dollar, compared to 300.00/30 the previous day, according to market dealers. Meanwhile, bond yields saw a marginal increase. The bond market remained quiet, with active quotes yet to commence. A bond maturing on 1st July 2028 was quoted at 12.60/70%, up
Hatton National Bank (HNB) has received approval from its Board of Directors to initiate discussions regarding the acquisition of Bank Al-Falah’s Bangladesh operations. In a filing to the Colombo Stock Exchange (CSE), HNB confirmed that its board has also given the green light to issue a non-binding offer. This offer is subject to the completion
Sri Lanka’s rupee opened weaker at 300.90/301.30 against the US dollar on Thursday, according to dealers. The currency closed at 300.20/60 to the greenback the previous day. In the bond market, yields remained stable. Notable bond quotes included: In equities, the Colombo All Share Price Index opened 7.67 points higher at 11,489, while the S&P
Sri Lanka’s rupee opened weaker on Wednesday, trading at 299.80/300.20 against the US dollar, according to market dealers. The rupee had closed at 299.60/300.00 on Tuesday following a three-day weekend. Bond yields remained steady with a bond maturing on 15.12.2026 quoted at 11.10/20 percent, up slightly from 11.05/20 percent. Bonds maturing on 01.07.2028 and 15.06.2029
Fitch Ratings has upgraded the national long-term rating of Habib Bank Limited – Sri Lanka Branch (HBLSL) to ‘AA-(lka)’, up from ‘A(lka)’. The outlook for the rating is stable. This upgrade follows the improved credit profile of HBLSL’s head office, Habib Bank Limited (HBL) in Pakistan, due to the recent upgrade of Pakistan’s sovereign rating.
Sri Lanka’s rupee opened flat at 299.50/70 against the US dollar on Tuesday, according to dealers. Bond yields remained largely steady, while stocks experienced a slight increase. The rupee had closed at 299.50/80 to the dollar on Monday. In the secondary bond market, yields saw some changes: a bond maturing on 15.12.2026 was quoted at
The Colombo Stock Exchange closed higher on Tuesday, as indicated by data on its site. The broader All Share Index rose by 0.37 percent, or 42.09 points, closing at 11,293, while the more liquid S&P SL20 Index increased by 0.39 percent, or 12.44 points, ending at 3,226. Turnover for the day was 582 million rupees,
Sri Lanka’s rupee strengthened on Tuesday, closing at 302.10/20 to the US dollar, an improvement from Monday’s close of 302.30/43, according to dealers. Meanwhile, bond yields saw a slight increase. A bond maturing on 15.12.2026 closed at 10.75/85 percent, up from 10.75/80 percent. A bond maturing on 15.12.2027 closed at 11.85/12.05 percent, slightly up from