• Licensed Banks have not been asked to “Devalue” the Sri Lanka Rupee

    The Central Bank of Sri Lanka (CBSL) has observed messages being circulated claiming that licensed banks have been officially asked to devalue the Sri Lanka rupee with immediate effect.

    The general public is hereby informed that there is no basis whatsoever for such claims, and the CBSL has not made any change to its stance or the operational arrangements on the determination of the exchange rate.

    The public is also advised not to rely on false and misleading information that is being circulated through social and conventional media. Any official statement issued by the CBSL will be made by the Governor, Deputy Governor or any other authorised official of the CBSL identified by name and designation.

  • Sri Lanka Purchasing Managers’ Index - July 2021

    Purchasing Managers' Indices for both Manufacturing and Services activities expanded in July 2021.

    Manufacturing PMI increased further in July 2021 recording an index value of 57.8 with an increase of 7.4 index points compared to June 2021.

    Signaling a further expansion of Services activity, Services PMI increased further to an index value of 55.7 in July 2021.

  • External Sector Performance - June 2021

    The deficit in the trade account widened on a year-on-year basis for the fourth consecutive month in June 2021. Both exports and imports were significantly higher in June 2021 compared to June 2020. Considering the first half of the year, although exports recorded a healthy growth, import expenditure increased at a higher pace. Workers’ remittances recorded a year-on-year decline in June 2021, while earnings from tourism remained at minimal levels. In the financial account, both foreign investment in the government securities market and the Colombo Stock Exchange (CSE) continued to record marginal net outflows during the month. The Sri Lankan rupee remained broadly stable in June 2021.

  • Closure of Public Relations Counters of Employees’ Provident Fund (EPF) Department of the Central Bank of Sri Lanka

    Members and Employers of Employees’ Provident Fund (EPF) are hereby informed that the Public Relation and Inquiry Counters at the Lloyd’s Building, Sir Baron Jayathilake Mawatha, Colombo 01 will be closed until 20.08.2021 as several staff members of this unit have been tested positive for COVID-19.

    All other services of EPF Department will be continued uninterruptedly. Please refer to the contact details below or visit our website, www.epf.lk for more information.

  • Streamlining Complaint Handling Procedure and Introducing a Hotline for Inquiries from the Central Bank of Sri Lanka

    The Financial Consumer Relations Department (FCRD) established under the provisions of Section 33 of the Monetary Law Act No. 58 of 1949, as amended, continues to serve as the single point of contact to handle complaints against financial service providers (FSPs) regulated by the Central Bank of Sri Lanka (CBSL).

    FCRD introduced a complaint submission form for financial consumers who wish to submit a complaint against a FSP regulated by CBSL. This will streamline the complaint handling process in an efficient manner and financial consumers are encouraged to submit a clear and concise complaint with accurate information using the complaint submission form. 

  • Land Valuation Indicator - First Half of 2021

    Land Valuation Indicator (LVI) for Colombo District increased to 155.1 during the first half of 2021. The annual increase of 9.5 and the semi-annual increase of 6.8 of LVI, reversed the declining trend observed in the LVI increases over the last two years.

    All sub-indicators of LVI, namely Residential LVI, Commercial LVI and Industrial LVI, contributed to the overall increase. Industrial LVI recorded the highest annual increase of 10.1 per cent, followed by Residential LVI and Commercial LVI.

  • CCPI based Inflation increased to 5.7 per cent in July 2021

    Headline inflation, as measured by the year-onyear (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 , increased to 5.7 per cent in July 2021 from 5.2 per cent in June 2021. This was driven by monthly increases of prices of items in the Non-food category. Subsequently, Food inflation (Y-o-Y) decreased to 11.0 per cent in July 2021 from 11.3 per cent in June 2021, while Non-food inflation (Y-o-Y) increased to 3.2 per cent in July 2021 from 2.5 per cent in June 2021.

    The CCPI, measured on an annual average basis, increased marginally to 4.2 per cent in July 2021 from 4.1 per cent in June 2021.

  • NCPI based Inflation remained unchanged in June 2021

    Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100), remained unchanged at 6.1 per cent in June 2021 due to the statistical effect of the high base prevailed in June 2020. Meanwhile, Food inflation (Y-o-Y) decreased to 9.8 per cent in June 2021 from 10.3 per cent in May 2021 and Non-Food inflation (Y-o-Y) increased to 2.9 per cent in June 2021 from 2.5 per cent in May 2021.

    The NCPI, measured on an annual average basis, also remained unchanged at 5.4 per cent in June 2021.

  • Imposition of Administrative Penalties by the Financial Intelligence Unit (FIU) to Enforce Compliance on Financial Institutions during the Second Quarter of 2021

    By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 06 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 imposed penalties, amounting to Rs. 3.0 million in total for the period from 1 April 2021 to 30 June 2021 to enforce compliance on Financial Institutions. The money collected as penalties were credited to the Consolidated Fund.

  • Response to the Announcement made by Moody's Investors Service

    Following the announcement by Moody’s Investors Service on Sri Lanka’s Sovereign rating, the Ministry of Finance has issued a response, which can be found on the link below:

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