Thu, 16 Sep 2021 Today's Paper

Foreign reserves improve to US $ 5.7bn in Dec.

21 January 2021 09:38 am - 0     - {{hitsCtrl.values.hits}}

A A A

Sri Lanka’s foreign reserve buffers have improved by US $ 200 million during December to end the year with a total reserve position of US $ 5.7 billion, a safe level compared to all the headwinds during 2020. 


The current reserves position has the potential to cover 4.3 months of imports, also providing a sufficient cover in respect of reserve adequacy, albeit it is well below the US $ 7.6 billion by end-2019. Sri Lanka repaid US $ 4.5 billion worth of foreign currency loans during 2020, including a billion dollar sovereign bond and it lost crucial inflows from tourism, other services inflows and portfolio flows, as the pandemic crippled the global economies, including the stable ones. 

The Central Bank purchased US $ 282.5 million during 2020 from the domestic market to build up the reserves. 
The Central Bank further said it expects to continue on this path and would remain a net purchaser of dollars through 2021 as well.  


During the last couple of months, the net dollar purchases by the Central Bank declined, before turning to forex sales of US $ 22.5 million in December. 


Sri Lanka is eying capital inflows, including a US $ 1.5 billion swap facility from the People’s Bank of China, US $ 700 million from China Development Bank, US $ 300 million from Reserve Bank of India and several other bilateral and multilateral funding lines during 2021. 


The Central Bank this week hinted that it remains keen to launch another sovereign bond this year and is awaiting the opportune time.

 

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


Mysterious disease killing pups!

A mysterious respiratory disease affecting puppies in the Central Province is

Jacqueline Fernandez; Lankan Star Shining in Indian Film Sky

Sri Lanka’s Jacqueline Fernandez who has made a name for herself in India

Young families share stories of pregnancy in a pandemic

For hundreds of expectant and new mothers, pregnancy and childbirth are nothi

“Your travel plans should not come first” – Dr. Dinu Guruge

In a recent live discussion on fighting the Covid-19 pandemic hosted by Daily