Business |
|
Monday 20, March 2000 |
The information contained in this issue is based on the Central
Bank's own computations and data supplied by other institutions.
Week Week Year
ending ago ago
Mar. 16
Commercial Bank middle rate
- US$ 73.52 73.48 69.47
- STG 115.66 116.22 112.57
- DM 36.04 36.29 38.50
- FFr 10.74 10.82 11.48
- Yen 0.70 0.69 0.59
- Euro 70.48 70.99 75.31
- SDR (As at 15, Mar. 2000) 98.14 98.04 94.24
Central Bank
- US$ - Buying rate 72.29 72.30 68.37
- US$ - Selling rate 73.76 73.76 69.76
Central Bank purchases
and sales of foreign
exchange from
Commercial Bank
(US$ Mn.) - total for week
- Purchases - - -
- Sales - - -
Forward Rates (US$)
- 1 month 74.03 73.94 70.14
- 3 months 74.78 74.74 71.10
(Weekly average based
on actual
transactions)
Average daily inter-bank
turnover (US $ Mn.) 8.30 9.40 6.55
In nominal terms, the Rupee appreciated against the US$, Yen and SDR while appreciated against the STG, DM, FFr and Euro.
Week Week Year
ending ago ago
Mar. 15
Inter-Bank Call Money
turnover (a) 5,524 4,819 3,597
Central Bank Secondary
Window (a)
Treasury Bills
- Repo 876 57 644
- Outright sales 10 0 17
- Outright purchases 0 0 0
- Reverse Repo 0 170 32
Treasury bonds
- Repo - - -
- Outright sales - - -
- Outright purchases - - -
Reverse Repo 0 569 0
Central Bank holdings
- Treasury Bills 17,844 17,899 7,885
- Treasury Bonds 0 519 0
(a) Daily average for week.
Bond series Maturity Maturity Average Yield** Average Yield**
period D/M/Y buying selling
(Years) price*
11.00% 2000 D 2 01.04.2000 99.75 13.56 99.80 12.95
11.00% 2000 E 2 01.05.2000 99.70 12.43 99.81 11.76
11.00% 2000 F 2 01.06.2000 99.62 12.25 99.69 11.96
11.00% 2000 G 2 01.07.2000 99.52 12.28 99.59 12.07
11.00% 2000 H 2 01.08.2000 99.36 12.51 99.45 12.28
11.00% 2000 J 2 01.09.2000 99.26 12.58 99.43 12.21
11.00% 2000 K 2 01.10.2000 99.32 12.21 99.43 12.01
11.00% 2000 L 2 01.12.2000 98.93 12.49 99.37 11.85
11.00% 2001 A 2 01.05.2001 98.06 12.81 98.29 12.59
11.00% 2001 B 2 15.07.2001 97.72 12.84 98.00 12.61
11.00% 2001 C 2 01.09.2001 97.81 12.65 98.06 12.46
11.00% 2001 D 2 01.12.2001 97.47 12.63 97.64 12.52
10.75% 2002 A 2 01.01.2002 97.63 12.21 97.77 12.12
12.00% 2000 A 3 01.10.2000 99.63 12.64 99.82 12.29
11.75% 2000 A 3 15.10.2000 99.63 12.34 99.78 12.08
11.50% 2001 C 3 01.05.2001 99.03 12.39 99.25 12.18
11.50% 2001 D 3 01.07.2001 98.93 12.36 99.18 12.15
11.50% 2001 E 3 01.10.2001 98.67 12.44 98.91 12.26
11.50% 2001 F 3 01.12.2001 98.85 12.22 98.97 12.14
11.25% 2002 A 3 01.01.2002 97.88 12.56 98.17 12.37
11.25% 2002 B 3 01.03.2002 97.67 11.61 98.00 12.41
11.25% 2002 C 3 01.05.2002 97.04 12.84 97.39 12.65
11.25% 2002 D 3 01.07.2002 97.44 12.53 97.88 12.31
11.25% 2002 E 3 01.08.2002 96.10 12.67 97.46 12.49
11.25% 2002 F 3 01.09.2002 96.94 12.72 97.30 12.54
11.00% 2003 A 3 01.01.2003 97.43 12.52 96.94 12.30
12.25% 2001 A 4 15.05.2001 99.17 12.98 99.45 12.72
11.50% 2001 A 4 01.11.2001 98.75 12.33 99.07 12.11
11.50% 2001 B 4 15.11.2001 98.60 12.41 98.96 12.17
12.00% 2002 A 4 01.07.2002 98.55 12.72 99.09 12.44
12.00% 2002 B 4 01.10.2002 98.25 12.81 99.15 12.38
11.50% 2003 A 4 01.01.2003 96.64 12.94 97.35 12.63
11.50% 2003 B 4 01.03.2003 96.84 12.80 97.44 12.55
11.50% 2003 C 4 01.06.2003 96.52 12.83 96.98 12.65
11.50% 2003 D 4 01.07.2003 96.52 12.80 97.12 12.57
11.50% 2003 E 4 01.09.2003 96.18 12.89 96.84 12.65
11.25% 2004 A 4 01.01.2004 95.61 12.72 96.11 12.55
11.75% 2004 A 5 01.03.2004 96.08 13.04 96.82 12.79
11.75% 2004 B 5 01.09.2004 95.67 13.05 97.01 12.64
11.50% 2005 A 5 01.01.2005 94.24 13.14 97.89 12.94
12.00% 2005 A 6 01.09.2005 97.41 12.67 97.71 12.59
11.75% 2006 A 6 01.01.2006 94.93 13.01 95.21 12.93
* Per Rs. 100
** Yield to maturity % per annum
This report is based on two-way quotes submitted by seventeen primary dealers
Week Week month Year
ending ago ago ago
Mar.16
Rice (Rs/Kg)
- Samba 30.00 30.80 32.10 36.35
- Kekulu 28.00 28.80 28.17 29.45
Vegetables (Rs./Kg)
- Pumpkins 20.00 20.00 23.84 23.40
- Ash-plantains 36.00 36.00 39.20 40.00
- Snake gourd 28.00 29.60 25.38 25.60
- Beans 56.00 50.00 43.64 38.85
- Carrots 48.00 41.60 40.19 47.70
- Tomatoes 60.00 41.00 39.62 50.70
Other foods (Rs./Kg)
- Red-onions 50.00 50.20 56.60 55.10
- Big-onions 30.00 25.40 44.21 42.05
- Potatoes 34.00 32.40 45.38 36.95
- Dried chillies 110.00 106.00 131.91 125.25
- Eggs 4.20 4.12 3.51 2.95
Fish (Rs/Kg)
- Balaya 70.00 80.00 82.51 92.50
- Salaya 30.00 23.00 45.50 45.25
- Paraw 160.00 174.00 185.88 160.00
- Kelawalla 150.00 162.00 142.32 138.50
-
Wholesale price-Pettah market
Week Week month Year
ending ago ago ago
Mar. 16
Rice (Rs/Kg)
- Samba 26.50 26.50 26.50 30.77
- Kekulu 23.50 23.50 23.50 24.50
Vegetables (Rs./Kg)
- Pumpkins 4.50 4.50 7.50 11.00
- Ash-plantains 22.50 22.50 22.50 20.00
- Snake gourd 20.00 15.50 19.00 14.00
- Beans 37.50 37.50 37.50 19.00
- Carrots 32.50 32.50 32.50 27.50
- Tomatoes 40.00 27.50 11.00 37.50
Other foods (Rs./Kg)
- Red-onions 32.50 30.00 36.00 40.00
- Big-onions 19.50 19.00 15.00 33.00
- Potatoes 25.00 23.50 27.50 29.00
- Dried chillies 89.00 75.00 83.50 99.00
- Eggs 4.10 4.10 4.10 2.80
Fish (Rs/Kg)
- Balaya 60.00 60.00 75.00 60.00
- Salaya 22.50 11.00 15.00 27.50
- Paraw 105.00 105.00 120.00 100.00
- Kelawalla 90.00 90.00 105.00 100.00
During the week wholesale prices of rice were unchanged. Prices of snake gourd and tomatoes increased due to a drop in supply. Prices of onions, potatoes and dried chillies increased due to decreased supply in the market. Prices of fresh fish except salaya were unchanged.
Week Week Year
ending ago ago
Mar. 16
Commercial Bank Prime
Lending Weekly
average (PLR) 14.36 15.10 15.2
Treasury Bill Yield (TBR)
- 3 months (91 days) 11.41 11.39 11.71
- 12 months (364 days) 12.01 11.99 12.49
Central Bank overnight
repurchase rate (Repo)(1) 9.00 9.00 11.00
Central Bank overnight
reverse repurchase
rate (1) 13.30 13.30 14.54
Call Money Weekly
Average (CMR) 11.06 12.75 12.69
Sri Lanka inter-bank offer
Rate (SLIBOR) (1)
- 1 day 12.48 12.98 -
- 7 days 12.50 13.04 -
- 1 month 12.65 13.00 -
Feb. Month Year
2000 ago ago
Savings deposits -
Commercial Banks 2.0-10.0 2.0-10.0 2.0-10.0
One year fixed deposits 9.0-12.5 9.0-12.5 9.0-12.5
Commercial Bank Average
Weighted Deposits (AWDR) 9.06 9.09 9.2
Commercial Bank Average
Weighted Fixed Deposits
(AWFDR) 10.80 10.80 10.7
Savings deposits - NSB 8.4 9.2 9.6
One year fixed deposits -
NSB 10.5 11.5 11.5
Treasury Bonds auction Previous
(6Y) (6Y)
Mar. 14 Feb. 24
Coupon rate 11.75 11.75
Weighted Average Yield 12.73 12.90
Current Rate on
rate Mar. 10
Mar. 16
Central Bank Securities
(7 days) Interest Rate 9.16 9.16
Treasury Bill rates increased. Call money rates stabilised within the 9.50 to 13.25 per cent during the week.
(1) As at last working day of the week.
-
Commercial Papers Issues (1)
1999* 1998 1997
to Dec.
Total issues (Rs. bn) 16.2 16.5 11.1
Outstanding (at the end
of the period) (Rs. bn) 4.3 4.3 3.5
* Provisional
(1) Based on the information provided by Commercial Banks
and Merchant Banks.
Feb. Month Year
2000 ago ago
Colombo district
consumers’ price
index (CDCPI)
(Oct. 1996-Sep 1997=100) 113.6 113.1 115.6
Annual average change % 2.5 3.1 6.3
Point to point change % -1.7 -2.2 5.4
Dec.99 Month Year
ago ago
Wholesale price
index (WPI)
(1974 = 100) 1308.1 1305.5 1314.7
Annual average change % -0.5 -0.1 6.1
Colombo Consumers’ Feb. Month Year
Price Index (CCPI) 2000 ago ago
(1952 = 100) 2437.7 2408.1 2391.3
Annual average change % 4.1 4.4 8.0
Point to point change % 1.9 0.3 5.0
Jan. Month Year
2000 ago ago
Greater Colombo
Consumers’ Price
Index (GCPI)
(Jan-June 1989 = 100) 244.8 245.5 251.1
Annual average change% 3.2 3.8 6.3
The annual average change of the CDCPI computed by the Central Bank of Sri Lanka was 2.5 per cet in February 2000. The WPI showed an annual average change of -0.5 per cent in December, 1999. The rate of inflation as indicated by the CCPI was 4.1 per cent in February 2000. In the food category, prices increased by 0.4 per cent. Prices of rice and curry, condensed milk, milk tea, cummin seed, some varieties of vegetables and fresh fish, red onions and kerosene oil increased during the month, while prices of rice, dried chillies, pepper, some varieties of fresh fish limes, coconut oil and potatoes decreased.
1999 (a) 1998 1999 1999
Jan-Nov Jan-Nov revised original
estimates estimates
Revenue (Rs. bn) 174.9 153.3 201.40 214.30
Expenditure & lending
minus repayments
(Rs. bn) 253.1 237.3 290.20 283.30
Current 190.6 181.2 205.10 199.20
Capital & lending
minus repayments 62.5 56.1 85.10 84.10
(Government finance data are according to the economic
classification)
(a) Provisional
Total revenue increased by 14.1 per cent over the period.
2000* 1999 %
Jan. Jan. change
Export Rs. Mn 27,527.2 22,996.2 19.7
- Agricultural Rs. Mn 5,223.5 4,345.8 20.2
- Industrial Rs. Mn 21,299.7 17,554.7 21.3
- Mineral Rs. Mn 783.2 561.1 39.6
- Others Rs. Mn 220.7 534.6 -58.7
Imports Rs. Mn 42,102.9 29,164.8 44.4
- Consumer goods Rs. Mn 6,152.9 6,280.0 -2.0
- Intermediate goods Rs. Mn 20,649.2 14,464.4 42.8
- Investment goods Rs. Mn 14,383.3 7,785.1 84.8
- Other Rs. Mn 917.4 6 35.3 44.4
Trade balance Rs. Mn -14,575.7 -6,168.6 -136.3
Exports (in
US terms) US$ Mn 380.9 338.4 12.6
- Agricultural US$ Mn 72.2 64.0 12.8
- Industrial US$ Mn 294.4 258.4 13.9
- Mineral US$ Mn 10.8 8.3 30.1
- Other US$ Mn 3.1 7.9 -60.8
Imports US$ Mn 581.9 429.2 35.6
- Consumer goods US$ Mn 85.0 92.4 -8.0
- Intermediate goods US$ Mn 285.4 212.9 34.1
- Investment goods US$ Mn 198.8 114.6 73.5
- Others US$ Mn 12.7 9.3 36.6
Trade balance US$ Mn -201.4 -90.8 -121.8
* Provisional
Export earnings recorded an increase of 12.6 per cent in US$ terms, reflecting increase in industrial agricultural and mineral exports. The increase in imports is reflected in intermediate, investment and other categories of imports.
2000 Month Year
Jan. ago ago
Total exports
- Value 98.2 114.9 87.4
- Quantity 106.8 125.3 93.0
- Unit value 92.0 91.7 93.9
Total imports
- Value 98.8 105.0 87.8
- Quantity 98.6 115.2 103.9
- Unit Value 100.2 91.2 84.5
Terms of trade 91.8 100.6 111.2
** In US$ terms
2000* 1999 %
Jan Jan change
Tourist arrivals (‘000) 43.3 44.4 -2.5
Earnings from tourism US$ Mn 27.2 27.9 -2.5
Rs. Mn 1,969.0 1,894.6 3.9
* Provisional
Tourist arrivals dropped by 2.5 per cent.
2000* 1999 %
Jan. Jan. change
Total industrial
exports Rs. Mn 21,299.7 17,554.7 21.3
- Food, beverages and
Tobacco Rs. Mn 778.9 333.7 133.4
- Textiles and apparel Rs. Mn. 15,157.3 12,738.9 19.0
- Petroleum products Rs. Mn 620.6 230.5 169.2
- Leather, rubber etc. Rs. Mn 2,292.6 2,095.6 9.4
- Other Rs. Mn 2,450.3 2,156.0 13.7
Total industrial
exports US$ Mn 294.4 258.4 13.9
- Food, beverages and
Tobacco US$ Mn 10.8 4.9 120.4
- Textiles and apparel US$ Mn 209.5 187.5 11.7
- Petroleum products US$ Mn 8.6 3.4 152.9
- Leather, rubber etc. US$ Mn 31.7 30.8 2.9
- Other US$ Mn 33.8 31.8 6.3
* Provisional
Industrial exports increased by 13.9 per cent in US$ terms mainly due to increases in earnings from food, beverages & tobacco, textiles & apparel, petroleum products and leather & rubber products categories.
1999(a) Month Year
End Dec. ago ago
M1 (Rs. bn) 108.6 103.7 96.3
M2 (Rs. bn) 358.1 350.0 316.2
M2b (Rs. bn) 428.3 419.3 377.7
Net foreign assets of
the banking system
(Rs. bn) (b) 102.1 101.9 105.6
Net domestic assets of the
banking system (Rs. bn) (b) 326.2 317.4 272.1
- Net credit to government
(Rs. bn) 93.9 86.6 64.6
- Credit to corporations
(Rs. bn) 13.4 10.5 10.8
- Credit to the private
sector (Rs. bn) 325.6 325.0 294.1
Reserve money (Rs. bn) 100.4 94.8 92.9
Annual change (%)
M1 12.8 11.6 12.1
M2 13.3 14.2 9.7
M2b 13.4 14.5 13.2
Net foreign assets of the
banking system (b) -3.4 0.8 16.7
Net domestic assets of
the banking system (b) 19.9 19.7 11.9
- Net credit to
government 45.3 45.6 42.8
- Credit to corporations 23.5 8.9 -26.1
- Credit to the private
sector 10.7 11.9 11.8
Reserve money 8.2 6.2 10.9
(a) Provisional
(b) In relationto M2b
1999* 1998 %
Dec. Dec. change
Central Government
Employees
(1978 = 100) 1,001.4 1,001.4 0.0
Workers in wages boards 977.6 977.4 0.0
- Agriculture 1,116.0 1,115.9 0.0
- Industry & Commerce 829.4 828.3 0.1
- Services 559.7 559.7 0.0
* Provisional
Nominal wages of workers in Wages Boards have increased marginally.
2000* 1999 %
end Jan. end Dec. change
External Assets
Total reserves(a) US$ Mn 2,540 2,582 -1.6
Rs. Mn 184,312 185,959 -0.9
2000* 1999 %
Mar. 03 End Dec. Change
Gross official
reserves US$ Mn 1,643 1,639 0.2
Rs. Mn 119,818 118,013 1.5
1999* 1998 %
Jan-Nov Jan-Nov change
Private remittances
- Inflows US$ Mn 967 923 4.8
Rs. Mn 67,958 59,454 14.3
- Outflows US$ Mn 149 139 7.2
Rs. Mn 10,494 8,931 17.5
- Net US$ Mn 818 784 4.3
Rs. Mn 57,464 50,522 13.7
* Provisional
(a) In the presentation of BOP data, FCBUs have been treated as part of the domestic banking system. The total level of foreign reserves was sufficient to finance 4.6 months of projected imports (without Air Crafts) for 2000.
-
International commodity Prices
2000 1999 %
Jan. Jan. change
Exports (Colombo
auction price)
- Tea Rs./Kg 132.89 122.30 8.66
Imports (C & F)
- Rice Rs./Mt 16,729.45 14,665.00 14.08
- White sugar Rs./Mt 14,498.06 17,937.12 -19.17
- Crude Oil Rs./Barr.1,880.20 731.91 156.89
- Wheat Rs./Mt 9,651.00 9,547.96 1.08
Exports (Colombo
Auction Price)
- Tea US$/Kg 1.84 1.80 2.22
Imports (C & F)
- Rice US$/Mt 231.20 215.83 7.12
- White sugar US$/Mt 200.36 263.98 -24.10
- Crude Oil US$/Barr.25.98 10.77 141.23
- Wheat US$/Mt 133.38 140.52 -5.08
The information contained in this issue is based on the Central Bank’s own computations and data supplied by other institutions.
End Nov Month year
1999(a) ago ago
Domestic Debt Rs. bn 536.5 529.0 446.3
By maturity
- Short term Rs. bn 178.6 174.4 149.8
- Medium &
long-term Rs. bn 357.9 354.6 296.5
By institution
- Non-bank Rs. bn 401.4 399.3 344.2
- Bank Rs. bn 135.1 129.7 102.1
Foreign Debt Rs. bn 501.6 500.3 445.9
- Concessional Rs. bn 491.3 489.9 431.0
- Multilateral Rs. bn 225.8 225.7 205.1
- of which; IDA Rs. bn 118.1 118.4 109.3
- ADB Rs. bn 101.9 102.3 90.6
- Bilateral Rs. bn 265.5 264.2 225.9
- of which; Japan Rs. bn 161.5 160.7 124.7
- Non-concessionalRs. bn 10.3 10.4 14.9
Total Debt Rs. bn 1,038.1 1,029.3 892.2
Foreign Debt US$ bn 7.0 7.0 6.6
Concessional US$ bn 6.8 6.8 6.4
Multilateral US$ bn 3.1 3.2 3.0
of which; IDA US$ bn 1.6 1.7 1.6
ADB US$ bn 1.4 1.4 1.3
Bilateral US$ bn 3.7 3.7 3.4
of which; Japan US$ bn 2.2 2.2 1.9
Non Concessional US$ bn 0.1 0.1 0.2
(a) Provisional
The total outstanding public debt increased by 16.4 per cent compared to the end of November 1998.