Tuesday, 20 August 2024 08:54

Sri Lanka central bank buys US$121mn in July Featured

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Sri Lanka’s central bank has bought 121 million US dollars from banks in July 2024, taking net purchases to 1.87 million US dollars in 2024.

The central bank had to sell dollars on a net basis in June after an ealier spike in unsterilized excess liquidity and credit.

In order to collect reserves permanently the liquidity created from dollar purchases has to be mopped up.

Sri Lanka gets about 2.0 billion dollars of current receipts every month, of which about 1.5 billion US dollars are used in imports now. Some money is also used for outward travel and paying bonds.

 

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