FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» Misuse of government property by Royal Colombo Golf Club
by ChooBoy Today at 12:52 pm

» SL Cauvery and Mannar Basins Petroleum Resource Data Revealed
by samaritan Today at 12:00 pm

» Expolanka to continue its winning streak
by samaritan Today at 10:39 am

» Container shipping stocks routed
by target1 Yesterday at 1:32 pm

» Supply Chain Latest: Ocean Freight Rates Are Falling
by target1 Yesterday at 1:26 pm

» Turkish ship leaves Ukraine's Mariupol after grain talks with Moscow
by target1 Yesterday at 11:29 am

» This week's CBOT corn, soy freefalls hard to match in recent years
by target1 Yesterday at 9:57 am

» Positive news to boost market sentiment
by samaritan Yesterday at 9:52 am

» Maharaja at IMF meeting
by Maharaja Thu Jun 23, 2022 10:35 pm

» Why no power cuts in certain areas of Colombo?
by samaritan Thu Jun 23, 2022 5:44 pm

» India assures fullest support to Sri Lanka as a close friend
by samaritan Thu Jun 23, 2022 5:17 pm

» SINS, SAMP, COMB, PARQ, ALUMEX and AEL - are they good shares to start collecting now?
by surfjj Thu Jun 23, 2022 4:25 pm

» Learn how a fixed exchange rate system can be used to reduce inflation.
by target1 Thu Jun 23, 2022 3:35 pm

» Debt Crisis: Sri Lanka Vs Argentine
by CHRONICLE™ Thu Jun 23, 2022 8:17 am

» Sri Lanka in state of panic 1 month after sovereign default
by reyaz Tue Jun 21, 2022 5:23 pm

» Financial stability - we are at the crossroads.
by sheildskye Tue Jun 21, 2022 2:17 pm

» Shrinkflation: Is it ethical?
by sheildskye Tue Jun 21, 2022 2:05 pm

» Banking bullish billionaire Ishara expands footprint
by samaritan Tue Jun 21, 2022 10:58 am

» SL hopes to finalize a staff level program with IMF soon-RW
by samaritan Tue Jun 21, 2022 9:48 am

» Sri Lanka Stock Market heading toward ASPI 4500
by samaritan Tue Jun 21, 2022 9:29 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Sri Lanka’s Forex Reserves to exceed US$7 Billion by end 2021

Sri Lanka’s Forex Reserves to exceed US$7 Billion by end 2021

Go down  Message [Page 1 of 1]

CHRONICLE™

CHRONICLE™
Admin

Sri Lanka’s Forex Reserves to exceed US$7 Billion by end 2021 F961c110

It has been noted that several opposition groups have been speculating about Sri Lanka's forex Reserve level and attempting to convey a status of instability.

In that context, it must be stressed that what is most important is the cash flow, not the Reserve level at a given time. Experienced finance mangers will keep a close watch on the cash flows as they very well know that temporary fluctuations in the reserve level may occur, but that no destability will be caused if the cash flow is managed successfully.

Sri Lanka has worked out its external cash flows in a manner so that every Forex loan repayment and interest payment will be made on time, through the careful management of its existing reserves as well as expected inflows and outflows.

The inflows over the next 3 months, as per the country's Forex pipeline amounts to nearly USD 2,650m as follows:

*SWAP from India - USD 400m
*SWAP from Bangladesh - USD 250m
*Loan from China Development Bank - USD 300m
*Special Drawing Rights allocation from the IMF - USD 800m
*Central Bank purchases from the Forex market in the next 3 months - USD 200m
*Inflow from ISBs held by local banks - USD 300m
*Expected inflows from the utilisation of under-utilised assets - USD 400m

The Central Bank has also successfully negotiated a SWAP with the People's Bank of China of a sum of USD 1500m, which too, can be accessed and hence could be included as a part of its effective reserves.

In addition, arrangements are being made to roll-over almost the entirety of the SLDB and FCBU loans that are maturing over the balance part of the year, so that such maturities will not lead to a reduction in the Reserve.

Also noteworthy is the fact that, with the repayment of the ISB on 27th July 2021, most of the Government's foreign debt service obligations for 2021 would have been repaid, allowing the country to replenish its reserves during the remainder of the year.

Since the current Forex Reserve balance is at around USD 3 billion after the payment of the ISB of USD 1 billion on 27th July 2021, the available reserves within the next few months would be over USD 7 billion, when considering the expected inflows and outflows.

MarketResearch, SAGA and samaritan like this post

https://www.srilankachronicle.com
Share this post on: redditgoogle

All above are temporary measures

We have to earn foreign exchange through hard work Foreign employment,

Tourism and exports

J-CAT and dayandacool like this post

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum