Sri Lanka’s rupee opened stronger at 291.05/20 against the US dollar on Tuesday, improving from the previous day’s rate of 291.35/45. Meanwhile, bond yields saw an uptick across various maturities. In the stock market, the All Share Price Index opened higher but dropped 0.74 percent, or 98.20 points, to close at 13,132. The S&P SL20
Sri Lanka’s rupee is expected to remain stable on a ‘very comfortable terrain’ in the coming years, with gross foreign exchange reserves forecast to exceed US $12 billion before capital repayments to creditors begin in 2029, according to the Sri Lanka Banks’ Association (SLBA) Chief and Standard Chartered Sri Lanka CEO Bingumal Thewarathanthri. Despite potential
As of 14th November 2024, gold prices in Sri Lanka have been updated with the following rates for various carat and weight categories: Gold Unit Gold Price Gold Ounce Rs. 750,380.00 24 Carat 1 Gram Rs. 26,470.00 24 Carat 8 Grams ( 1 Pawn ) Rs. 211,800.00 22 Carat 1 Gram Rs. 24,270.00 22 Carat
The National Development Bank PLC (NDB) has announced robust financial results for the nine months ending 30 September 2024, highlighting its resilience and strategic adaptability in an improving economic landscape. NDB Director/CEO Kelum Edirisinghe stated, “The positive trend in Net Interest Margins (NIMs), cost efficiency, and credit quality reflects our focused strategy to enhance shareholder
The latest edition of LMD, a leading business magazine, reveals a significant boost in economic sentiment following Sri Lanka’s recent presidential election. The LMD-PEPPERCUBE Business Confidence Index (BCI) survey indicates a surge in optimism within corporate circles, marking a positive shift under the new executive. According to the survey, October saw a dramatic increase in
Sri Lanka’s rupee remained stable at 292.55/75 to the US dollar on Tuesday, according to dealers, while bond yields saw a decline. A bond maturing on 01.05.2027 was quoted at 11.12/18 percent, while a bond maturing on 01.05.2028 was quoted at 11.58/60 percent. The bond maturing on 15.06.2029 was quoted at 11.95/12.00 percent. An auction
As of November 11, 2024, the price of 22-carat 8 grams (1 pawn) of gold in Sri Lanka is Rs. 202,800. For those looking to buy 1 gram of 22-carat gold, the price stands at Rs. 25,350. Meanwhile, the rate for 24-carat 8 grams of gold is Rs. 221,150. Here is the breakdown of the
Sri Lanka’s rupee opened weaker on Monday, trading at 292.60/70 to the US dollar, compared to 292.50/65 on Friday, according to dealers. Bond yields showed a mixed trend, with some yields decreasing while others remained stable. The yield on a bond maturing on December 15, 2026, was quoted at 10.45/55 percent, slightly up from 10.40/55
Sri Lanka’s pharmaceutical sector is beginning to show signs of recovery, with sales starting to grow after the country’s severe currency crisis in 2022. Hemas Holdings Plc, a prominent group involved in pharmaceuticals and consumer goods, reported that the expansion was driven by increased sales of lower-priced items, particularly diabetic drugs and vitamins. According to
Private sector credit demand showed signs of slowing in September, falling short of the recent high recorded in August, according to data from the Central Bank. In October, credit to the private sector increased by Rs. 89 billion, reflecting an 8.9% year-on-year growth. This was a decrease compared to the Rs. 135 billion growth seen