%AM, %10 %039 %2019 %05:%Sep

Sri Lanka rupee and foreign reserves strengthened last week

Central Bank announced that Sri Lanka rupee appreciated against the US dollar, (1.2 per cent). Pound sterling (4.1 per cent), the Euro (4.8 per cent) and the Indian rupee (4.0 per cent) while depreciated against Japanese yen (1.9 per cent) last week.

The appreciation of the Rupee is largely a reflection of the depreciation of the US Dollar with respect to other major trading currencies and the intervention of the monetary authority in the forex market, economic analysts said.

The gross official reserves were estimated at US dollars 8,532.6 million as at 30th August 2019.

The total outstanding market liquidity was a deficit of Rs. 22.620 bn by end of the week, compared to a deficit of Rs. 24.237 bn by the end of last week.

The reserve money increased compared to the previous week mainly due to the increase in currency in circulation and deposits held by the commercial banks with the Central Bank.

Weekly AWPR for the week ending 6 th September 2019 decreased by 6 bps to 10.60 per cent compared to the previous week.

India, China, UK, Germany and France were the top five sources of tourist arrivals, accounting for 49.6 per cent of total tourist arrivals upto the month of August 2019.

(LI)

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