- Last Update 2025-06-08 16:36:00
Central Bank anticipates stabilisation of the rupee soon
The Central Bank will be taking additional measures to prevent a further weakening of the rupee if there is need to do so while the present action towards this end is adequate at the moment, Central Bank (CB) Governor Indrajit Coomaraswamy told a media conference in Colombo on Tuesday.
Several measures have been taken to stabilize the rupee, which will continue to bring results in the future, he said.
The CB has intervened with US$184 million in forex markets to defend the rupee so far this year, he disclosed.
Foreign currency outflows stood at $487 million and the public hue and cry on the depreciation of the rupee is unnecessary, he said.
Emergency controls on some imports will be a short measure, he pointed out.
Sri Lanka will sell a sovereign bond before the end of the year and securing a $1billion dollar loan from China Development Bank is on the cards this week, he said.
A 250 million dollar Panda (Yuan) bond and 250 million dollar Samurai (Yen) bond will be raised this year, he revealed.
He noted that the recent policy measures of the Government and the CB will lead to stabilisation of the rupee.
These measures included margin deposit requirements for letters of credit opened for the importation of vehicles, cash margins on selected non-essential consumer goods imports and the suspension of concessionary vehicle permits for a limited period. (Bandula)
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