The Sri Lankan rupee appreciated by 0.7% against the US dollar during the year up to 25 September 2019, latest External Sector Performance report of the Central Bank of Sri Lanka outlines.

Reflecting cross-currency movements, the rupee appreciated against other major currencies except for the Japanese yen and the Canadian dollar during this period.

According to Central Bank latest statistics, as at end of July 2019, Sri Lanka’s gross official reserves were estimated at US dollars 8.3 billion, equivalent to 4.9 months of imports.

Meanwhile, total foreign assets, which consist of gross official reserves and foreign assets of the banking sector amounted to US dollars 11.0 billion as at end July 2019, which was equivalent to 6.5 months of imports.

Foreign investments in government securities recorded a net outflow of US dollars 33 million in July 2019.

On a cumulative basis, net outflows from the government securities market amounted to US dollars 129 million during the first seven months of the year.

Foreign investments in the CSE, including primary and secondary market transactions, recorded a net inflow of US dollars 44 million during the month of July 2019.

Accordingly, financial flows to the CSE recorded a net inflow of US dollars 34 million during the first seven months of 2019.

Further, long term loans to the government recorded a net outflow of US dollars 86 million during July 2019.