Sri Lanka official forex reserves exceed US$7bn: central bank

L to R: Samantha Ranatunga, Chairman, HVA Foods PLC; Jan Müggenburg, Chief Executive Officer, Müggenburg Group; Graham Stork, Chief Executive Officer, HVA Foods PLC; Sarva Ameresekere, Group Chairman, George Steuart & Co. Ltd.

Oct 07, 2010 (LBO) - Sri Lanka's gross official reserves surpassed the seven billion US dollars level on October 04, the central bank said in a statement.
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The level of reserves is equivalent to over 6.
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8 months of imports and is the highest ever reserves level of Sri Lanka, it said.


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On October 05 excess liquidity shot up to 64 billion rupees indicating an influx of foreign money with 42 billion rupees parked in the central bank's repo window.

In September a billion dollar 10-year sovereign bond issued by Sri Lanka was oversubscribed 6.

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3 times.

Also in September the International Monetary Fund released 212.

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5 million US dollars to Sri Lanka under its 2.

5 billion US dollar program.
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