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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Sri Lanka foreign reserves USD6.4 bln in July: CB official

Sri Lanka foreign reserves USD6.4 bln in July: CB official

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fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics

July 29, 2016 (LBO) – Sri Lanka’s official reserves were 6.4 billion US dollars at the end of July, up from 5.27 billion US dollars at the end of June, a central bank official said on Friday.
Reserves were boosted by a dual-tranche sovereign bond offering this month of 500 million dollars through 5.5-year sovereign bonds and one billion dollars through 10-year sovereign bonds.
Official reserves have fallen from 8.2 billion dollars at the end of 2014, partly due to outflows from the government securities market tied to fiscal slippage.

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Further boost in reserves would support to slow down rupee depreciation against major currencies. With Rupee appreciation import bill rate will be lower. Good for those who plan to import cars from Japan. It is possible by end of year Rs/Yen rate would be much lower than the current.

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