As of 6th September 2024, gold prices in Sri Lanka remain steady with updated rates for 22K and 24K gold. Here’s a detailed breakdown of the latest prices: Gold Unit Gold Price Gold Ounce Rs. 753,460.00 24 Carat 1 Gram Rs. 26,580.00 24 Carat 8 Grams ( 1 Pawn ) Rs. 212,650.00 22 Carat 1
Sri Lanka’s Commercial Bank of Ceylon PLC has officially completed the liquidation of its subsidiary, Commex Sri Lanka S.R.L., located in Rome, Italy. The bank first announced the voluntary liquidation of the wholly-owned subsidiary in August 2022. The final procedures have now been concluded, and Commex Sri Lanka S.R.L. has been deregistered from the Chamber
Multi Finance PLC has been officially delisted from the Colombo Stock Exchange (CSE) as of September 4, 2024, following its merger with L B Finance PLC. The delisting process was conducted in accordance with Rule 4 (2) of the Securities and Exchange Commission of Sri Lanka (SEC) Rules, 2001, as outlined in Gazette Extraordinary No.
A broader conflict in the Middle East could significantly impact Sri Lanka’s tea exports, petroleum imports, and remittance inflows, according to the Central Bank of Sri Lanka (CBSL). The CBSL highlighted that the country has substantial trade exposure to the region, with nearly 46% of its tea exports directed to Middle Eastern markets. Additionally, tea
Sri Lanka’s rupee opened weaker on Tuesday, trading at 299.10/30 to the US dollar, according to market dealers. This marks a slight depreciation from the previous day’s closing rate of 298.80/299.00. Bond yields remained largely steady in the secondary market. A bond maturing on December 15, 2026, was quoted at 11.00/15 percent, slightly down from
Sri Lanka’s headline inflation, measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100), dropped sharply to 0.5% in August 2024 from 2.4% in July 2024. This significant decline aligns with the Central Bank of Sri Lanka’s (CBSL) projections. Food inflation (Y-o-Y) decreased to 0.8% in August from 1.5% in July,
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
The Sri Lankan rupee has been recognised as the best performing emerging market currency as of August 2024, showing an impressive spot return of 8.21%, according to Bloomberg market data. The rupee has held this title for five consecutive months, starting from March, making it the strongest emerging market currency so far this year. In
As of August 30, 2024, the price of gold in Sri Lanka continues to fluctuate with the following rates available for 22 Carat and 24 Carat gold. Gold Unit Gold Price Gold Ounce Rs. 757,143.00 24 Carat 1 Gram Rs. 26,710.00 24 Carat 8 Grams ( 1 Pawn ) Rs. 213,700.00 22 Carat 1 Gram
Sri Lanka’s high alcohol taxes are pushing consumers, already impacted by the economic crisis, toward illegal and dangerous alternatives, warns Harry Jayewardena, the Chairman of Distilleries Corporation of Sri Lanka (DCSL). The company has reported a decline in sales over the past year due to the rising costs of legal alcohol products. In the DCSL