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Last Updated : 2023-03-25 16:12:00
.jpg) The balance of payment (BoP) surplus is estimated to have surpassed US $ 2.15 billion as of end-August 2014 in comparison to a deficit of US $ 66 million for the corresponding quarter last year, the CB said. Meanwhile, the gross external reserves, which measure the strength of the external position, amounted to US $ 9.2 billion, equivalent to 5.9 months of imports. During August, tourism earnings increased by 22 percent YoY to US $ 203 million, while the earnings for the first eight months rose by 32 percent to US $ 1.45 billion from a year earlier. The biggest foreign exchange earner, worker remittances, rose by 1.5 percent YoY to US $ 548 million in August, while the eight months’ cumulative flows amounted to US $ 4.5 billion, a 10 percent growth from the corresponding period last year. The long-term loans obtained by the government during the first eight months amounted to US $ 1.17 billion compared to US $ 1.16 billion. “Net inflows to the government securities market from January to end-August 2014 amounted to US $ 218 million, which comprised net inflows to Treasury bills and Treasury bonds amounting to US $ 37 million and US $ 181 million, respectively,” the CB said in a statement. Further, foreign inflows to the Colombo Stock Exchange in August amounted to US $ 28 million compared to US $ 18 million in the same month last year and on a cumulative basis, the bourse received a net foreign inflow of US $ 56.7 million during the first eight months. The licensed commercial and specialized banks raised a total of US $ 200 million foreign funds during the first eight months. |
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