Sri Lanka’s currency in circulation and deposits in commercial banks (Reserve money) increased last week compared to the previous week showing signs of reactivating economic activity in the country over two months after Easter terror, Central Bank
The total outstanding market liquidity was a surplus of Rs. 44.494 bn by end of the week, compared to a surplus of Rs. 71.228 bn by the end of last week.
During the year up to 07 June 2019 the Sri Lanka rupee appreciated against the US dollar (3.6 per cent). Given the cross currency exchange rate movements, the Sri Lanka rupee appreciated against the pound sterling (3.5 per cent), Japanese yen (1.7 per cent), the euro (5.1 per cent) and the Indian rupee (2.4 per cent) during this period.
The gross official reserves were estimated at US dollars 6,732.4 million as at 31st May 2019.
During the period, crude oil prices followed a mixed performance. Price decrease was mainly supported by the increased U.S. supply and fears on the demand.
However, oil prices increased due to the OPEC led supply cuts and postponing trade tariffs on Mexico by the U.S. Overall, Brent and WTI prices rose by US$ 1.3 per barrel and US$ 0.4 per barrel, respectively, within the period, CB said.
(LI)