July 4, 2009 (LBO) - Sri Lanka's central bank has bought 390 million US dollars from forex markets in June to boost its foreign reserves, bringing the total purchases since a float of its currency in March to 450 million US dollars. The Central Bank floated the rupee in March as a prior action for an International Monetary Fund loan of 1.9 billion US dollars. The float ended a period of dollar peg defence that created a balance of payments crisis and cost the country more the 2.0 billion dollars in foreign reserves. Though the IMF loan has been delayed amid political wrangling by the United States and Britain as relations between Sri Lanka and the West took a dramatic downturn in the last stages of fighting with Tamil Tigers separatists. Governor Cabraal said last week that the loan was no longer urgent. "Let it come at the...
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» 1 hr 36 ago: Slight rise in construction cost of London Games « has risen slightly, but the overall budget for the games remains unchanged. The anticipated cost went up by $11.5 million to $11.95 billion during the last...
FTSEurofirst 300 closes 2.1 percent higher * Energy, mining shares gain as gold hits record, crude up * Cadbury shares set record as rival bidders circle By Brian Gorman LONDON, Nov 23 (Reuters) - European shares recorded their...
Published: Monday, 23 Nov 2009 | 12:43 PM ET Stocks rallied Monday after an encouraging report on existing-home sales and a pullback in the dollar. At the halfway point, the The dollar retreated against other major currencies,...
Nov 23, 2009 (LBO) - Sri Lanka's Malwatte Valley Plantations said net profit for the September quarter fell six percent to 152 million rupees from a year ago with earnings from rubber up sharply but no provision made for a...