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SL%27s+Forex+reserves+bottom+out.
Monday, 07 May 2012 - 8:11
SL's Forex reserves bottom out.
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Analysis of the Central Bank's domestic assets show that foreign reserves bottomed out around the second week of March 2012, about two weeks after foreign exchange interventions were reduced and fuel prices were raised.

The Central Bank said in the first two months that Sri Lanka spent 3.45 billion dollars on imports, and earned 1.79 billion US dollars from exporting merchandise, running a 'trade deficit' of 1.69 billion US dollars.

However the country also earned 943 million US dollars from exports of labour, 174.5 million US dollars from selling tourism services, and 807.6 million US dollars by exporting government debt, totalling 1.92 billion US dollars.

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