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Sri Lankan rupee rises on bank dollar selling COLOMBO: The Sri Lankan rupee ended up on Friday as banks sold dollars with subdued importer dollar demand due to measures taken by the government to discourage vehicle imports, dealers said. Vehicle imports will drop by at least 90 percent after the government changes the way it calculates the value of certain motor vehicles, officials said on Friday. Last week, the government imposed a 100 percent margin on letters of credit for motor vehicles to discourage unnecessary imports, in a move to prevent dollar outflows and further weakening of the rupee currency. The rupee ended slightly higher at 140.30/40 per dollar compared with Thursday's close of 140.45/50. "The pressure was not there because it's a Friday and some banks were selling (dollar)," said a currency dealer asking not to be named. Some dealers also said dollar demand from importers is reducing ahead of the government's budget in November and some ...

Emerging currencies, Asia equities rally on Fed minutes HONG KONG: Malaysia's ringgit and Indonesia's rupiah led an emerging market rally against the dollar Friday while Asian equities also pushed higher after minutes from the Federal Reserve's latest policy meeting suggested it could keep borrowing costs at record lows into next year.Energy firms tracked a surge in oil prices as hopes for crude demand picked up and ongoing crises in the Middle East fanned supply worries.The gains across assets come after a painful July-September ...
Emerging market currencies make fresh gains TOKYO: The dollar declined further against some emerging Asian currencies Thursday on waning expectations of an early rise in US interest rates.With last Friday's below-par US jobs report muddying the Federal Reserve's plans for lifting borrowing costs by the end of the year, many higher-yielding, or riskier, units have benefited.Emerging market currencies have been hammered in recent months as expectations of a US rate rise built up and China's economic growth slowed. Beijing's shock devaluation ...
Sri Lankan rupee ends higher on dollar selling by bank, low importer demand COLOMBO: The Sri Lankan rupee ended firmer on Wednesday as a private bank sold dollars amid tepid demand for the greenback from importers, dealers said. The rupee ended at 140.55/65 per dollar, compared with Tuesday's close of 141.05/141.10. Dealers said the two state-run banks through which the central bank directs the market were not seen selling dollars, but a local private bank sold the US currency, which helped the rupee to trade higher. "Rupee ended ...
Yen firmer after BoJ holds fire on fresh easing TOKYO: The yen rose against the dollar Wednesday after the Bank of Japan refrained from expanding its monetary easing programme at the end of a two-day meeting.The BoJ said it decided to keep the current 80 trillion yen ($665 billion) annual asset-buying scheme to stimulate the economy by an 8-1 vote, saying the Japanese economy is on track to recovery despite negative growth in the last quarter.The dollar stood at 119.93 in early afternoon trade ...
Sri Lankan rupee ends higher on bank dollar sales COLOMBO: The Sri Lankan rupee closed slightly firmer on Tuesday, as dollar selling by a private bank surpassed demand for the greenback by importers, dealers said. The rupee closed at 141.05/141.10 per dollar, compared with Monday's close of 141.24/28. Dealers said the two state-run banks through which the central bank directs the market, were not seen selling dollars, but a local private bank sold the US currency in early trade. "The rupee ended firmer on ...
Dollar holds steady on improved risk appetite TOKYO: The dollar held its ground on Tuesday against major currencies as investors returned to equities, betting that the Federal Reserve would delay hiking rates after seeing disappointing US economic data.The dollar bought 120.45 yen in Tokyo, little changed from 120.46 yen.The euro stood at $1.1194 and 134.84 yen, compared with $1.1187 and 134.77 yen.Poor US jobs data released on Friday has convinced many Fed watchers that the US central bank will delay a plan ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln