• Sri Lanka Purchasing Managers’ Index - November 2022

    Purchasing Managers' Indices for both Manufacturing and Services activities remained contracted in November 2022.

    Indicating a setback in manufacturing activities on a month-on-month basis, Manufacturing PMI recorded an index value of 42.1 in November 2022. This setback was contributed by subdued performance observed in all the sub-indices, except for Suppliers’ Delivery Time. 

    Services PMI recorded an index value of 49.0 in November 2022, up from 47.9 in October, yet remained slightly below the neutral threshold level. The rate of decline in services activities was softened with the improvements observed in New Businesses, Business Activities and Expectations for Activity. However, Employment and Backlogs of Work declined during the month.

  • Public awareness in relation to defrauding individuals through scam calls, text messages, email messages and social media networks

    In recent times, a rapid increase in the number of complaints filed by aggrieved parties has been observed in relation to defrauding money from individuals by giving false information through fraudulent phone calls, text messages, e-mail messages and social media networks, promising to direct them to foreign employment or asking them to pay customs duties to receive parcels containing various valuable goods. 

  • Imposition/ Collection of Administrative Penalties by the Financial Intelligence Unit (FIU) to Enforce Compliance on Financial Institutions from 01 July 2022 to 16 November 2022

    By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA. The penalty may be prescribed taking into consideration the nature and gravity of relevant non-compliance of the Financial Institution.

    Accordingly, as Sri Lanka’s regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), the FIU collected penalties as indicated below, amounting to Rs. 10.75 million in total from 01 July 2022 to 16 November 2022 to enforce compliance on Financial Institutions. The money collected as penalties were credited to the Consolidated Fund.

  • Revocation of the money changing permit issued to Prasanna Money Exchange (Pvt) Ltd

    After conducting an inquiry into the non-compliances committed by Prasanna Money Exchange (Pvt) Ltd upon the temporary suspension of the permit issued to the company to engage in the money changing business at its head office and branch located at No. 42A, Mudalige Mawatha, Colombo 01 and No. 57, Galle Road, Colombo 06, respectively, the Monetary Board of the Central Bank of Sri Lanka decided to permanently revoke the permit No. DFE/RD/0058 issued to Prasanna Money Exchange (Pvt) Ltd, in terms of section 11 (3) of the Foreign Exchange Act No. 12 of 2017 (the Act).

    The public is hereby informed that Prasanna Money Exchange (Pvt) Ltd is no longer permitted to engage in money changing activities as an Authorized Money Changer and buying, selling and exchanging foreign currency with Prasanna Money Exchange (Pvt) Ltd is considered as a contravention of the provisions of the Act.

  • External Sector Performance – October 2022

    Earnings from merchandise exports declined in October 2022, on a year-on-year basis, for the first time since March 2022, mainly due to lower earnings from garments exports. The decline in import expenditure continued in October 2022, (y-o-y), for the eighth consecutive month, despite recording an increase, compared to September 2022. The merchandise trade deficit recorded a notable contraction in October 2022, compared to the previous year. Meanwhile, the workers’ remittances steadied and earnings from tourism improved in October 2022, whereby earnings from tourism crossed over USD 1 bn during January-October 2022, while workers’ remittances reached about USD 3 bn during January-October 2022. Foreign investment in the government securities market and the Colombo Stock Exchange (CSE) recorded a marginal net inflow during October 2022. The Central Bank continued to provide forex requirement to finance essential imports, exhausting the liquid level of gross official reserves. Meanwhile, the weighted average spot exchange rate in the interbank market remained around Rs. 363 per US dollar during the month.

  • CCPI based headline inflation decreased for the second consecutive month in November 2022

    Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) decreased to 61.0% in November 2022 from 66.0% in October 2022. Following a similar trend, the Food inflation (Y-o-Y) decreased to 73.7% in November 2022 from 85.6% in October 2022, while the Non-Food inflation (Y-o-Y) decreased to 54.5% in November 2022 from 56.3% in October 2022.

  • The Central Bank of Sri Lanka maintains policy interest rates at their current levels

    The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 23 November 2022, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 per cent and 15.50 per cent, respectively, after considering the recent and expected developments in the domestic and global economy and macroeconomic projections. The Board noted that the maintenance of tight monetary policy stance is necessary to contain any demand driven inflationary pressures in the economy, while helping to further strengthen disinflation expectations, thus enabling to steer headline inflation towards the targeted level of 4-6 per cent over the medium term.

  • NCPI based headline inflation decelerated to 70.6% in October 2022 on year-on-year basis reversing its increasing trend observed since October 2021

    Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) which followed an increasing trend since October 2021, declined to 70.6% in October 2022 from 73.7% in September 2022. Similarly, the Food inflation (Y-o-Y) decreased to 80.9% in October 2022 from 85.8% in September 2022, while Non-Food inflation (Y-o-Y) decreased to 61.3% in October 2022 from 62.8% in September 2022.

  • SL Purchasing Managers’ Index (PMI) – October 2022

    Manufacturing PMI declined in October 2022, indicating a contraction in manufacturing activities on a month-on-month basis. Accordingly, Manufacturing PMI recorded an index value of 38.4 in October 2022, with a decline of 4.2 index points from the previous month, driven by decreases recorded in all the sub-indices.

  • Release of “Sri Lanka Socio Economic Data – 2022” Publication

    “Sri Lanka Socio Economic Data – 2022”, the annually published data folder of the Central Bank of Sri Lanka, is now available for public information. The current data folder is the 45th volume of the series.

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