• Special Publication by the Central Bank of Sri Lanka on “The 70 Year Journey of Currency Issue and Management”

    The Central Bank of Sri Lanka (CBSL) has published a special publication on the history of currency used in Sri Lanka, titled “The 70 Year Journey of Currency Issue and Management” co-authored by Retired Director Communications of CBSL, Ms. Shellomi H Gunawardena and Retired Senior Manager of CBSL, Mr. W M K Weerakoon.

    The authors have utilized their years of experience at the Currency Department of CBSL, in compiling this publication, to be used as a reference for bankers, students, numismatists, and others who would be interested in the history pertaining to currency in Sri Lanka. The book carries attractive colour illustrations of currency notes and coins used in Sri Lanka from ancient times with historical narratives, which also provide a glimpse of the political, economic and cultural background of the country over the past 70 years.

  • Release of ‘Economic and Social Statistics of Sri Lanka – 2021’ Publication

    ‘Economic and Social Statistics of Sri Lanka – 2021’, an annual publication of the Central Bank of Sri Lanka, is now available for public access.

    Statistics Department of the Central Bank of Sri Lanka restructured the layout of the publication last year, for ease of reference, while adding more statistics to enrich its content. Accordingly, the publication consists of statistical tables categorised under eight major areas, i.e. ‘National Accounts’, ‘Economic and Social Infrastructure’, ‘Prices, Wages and Employment’, ‘External Trade and Finance’, ‘Government Finance’, ‘Money and Capital Markets’, ‘Financial Sector’ and statistics of other countries.

  • Sri Lanka Purchasing Managers’ Index - June 2021

    Purchasing Managers' Indices for both Manufacturing and Services activities recovered in June.

    Manufacturing activities recovered marginally during June 2021 from the adverse impacts of the third wave of the COVID-19 pandemic.

    Services PMI returned to the growth territory in June 2021, recording an index value of 51.3, after declining for two consecutive months.

  • External Sector Performance - May 2021

    The deficit in the trade account widened on a year-on-year basis for the third consecutive month in May 2021. Both exports and imports were significantly higher in May 2021 than in May 2020, mainly due to the statistical effect of pandemic related disruptions a year ago. Earnings from exports increased, while imports declined in May 2021 compared to the previous month. During the month, workers’ remittances continued to increase, while earnings from tourism remained at minimal levels. In the financial account, foreign investment in the government securities market and the Colombo Stock Exchange (CSE) recorded marginal net outflows in May 2021. Meanwhile, the Sri Lankan rupee remained broadly stable throughout the month, and gross official reserves stood at US dollars 4.0 billion by end May 2021.

  • Re-appointment of Mr Sanjeeva Jayawardena, President’s Counsel to the Monetary Board of the CBSL

    Mr Sanjeeva Jayawardena, President’s Counsel, has been re-appointed to the Monetary Board of the Central Bank of Sri Lanka (CBSL), for a fresh term of 6 years, up to June 2027, by His Excellency the President Gotabaya Rajapaksa, consequent to his nomination being approved by the Parliamentary Council.

    Mr.Sanjeeva Jayawardena is the first President’s Counsel to serve on the Monetary Board of the CBSL.

    He presently serves as the Chairman of the Monetary Board Level, External Debt Monitoring Committee and as the Chairman of the Board Risk Oversight Committee. He also chairs the Ethics Committee of the CBSL.

  • Local Companies Permitted to Invest in the International Sovereign Bonds in the Secondary Market

    In terms of the provisions of the Foreign Exchange Act, No. 12 of 2017, the Hon. Minister of Finance has issued Regulations, with the approval of the Cabinet of Ministers, to permit companies incorporated in Sri Lanka under the Companies Act, No. 7 of 2007 (excluding companies engaged in finance business as per the Finance Business Act, No. 42 of 2011) to purchase International Sovereign Bonds issued by the Government of Sri Lanka (ISBs), in the secondary market.

    According to the above Regulations, companies can invest in ISBs utilizing 50% of the foreign currency borrowed from a person resident outside Sri Lanka in terms of the prevailing Foreign Exchange Regulations and subject to the following terms and conditions.

  • Additional interest up to 2% per annum extended for 2 years for Special Deposit Accounts (SDAs)

    Considering the potential of Special Deposit Accounts (SDAs) to attract a substantial amount of foreign exchange into the country and the resultant positive impact on the foreign currency reserve position of the country and the overall economy, the Hon. Minister of Finance with the recommendation of the Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to grant permission to rollover SDAs up to an accumulated period of 24 months from the initial date of placing such deposits. SDAs so rolled over will be eligible for additional interest up to 2% per annum offered by the Government.

    The Government of Sri Lanka introduced the SDAs on 08 April 2020 to seek assistance for the national effort to overcome the effects of COVID-19 pandemic in the country. Accordingly, as at 02 July 2021, total deposits received into SDAs amounted to approximately USD 458 million.

  • 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 07 July 2021, 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 4.50 per cent and 5.50 per cent, respectively. The Board arrived at this decision after carefully considering the macroeconomic conditions and expected developments on the domestic and global fronts.

  • Issue of Commemorative Coins to Mark the 65th Anniversary of Sri Lanka – China Diplomatic Relations and 100th Anniversary of Communist Party of China

    The Central Bank of Sri Lanka (CBSL) has issued gold and silver commemorative coins of Rupees 1,000, each with same depiction, to mark 65th Anniversary of diplomatic relations between Sri Lanka and the People's Republic of China and the 100th Anniversary of Communist Party of China. The coins have been issued at the request of the Government of Sri Lanka as an accolade for long-standing friendship and mutual trust between the two countries.

  • Investments by Licensed Banks in International Sovereign Bonds

    The Central Bank of Sri Lanka (CBSL) wishes to provide the general public and the investor community the following information, while refuting the statements of Rating Agencies that continue to undermine the banking sector’s stability and fuel speculation regarding investments of licensed banks in Government of Sri Lanka International Sovereign Bonds (ISBs) and Sri Lanka Development Bonds (SLDBs).

    With a view to facilitating investment opportunities in the country and to further encourage foreign currency inflows, the CBSL has allowed Licensed Commercial Banks (LCBs) and the National Savings Bank (NSB) to invest funds sourced externally in US Dollar denominated ISBs and SLDBs, equally splitting such investments into both ISBs and SLDBs, having considered all relevant risks involved including the following.

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