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14March2014
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KeyHighlights
Inflation decelerated further in February 2014 due to the moderate
increase in the general price level over the previous month and the baseeffect. The contribution to inflation, in February 2014 came mainlyfrom the non-food category.
Tea production in 2013 reached all time high of 340.2 million kgsupported by favorable weather conditions in the first half of the year.
The year-on-year growth of Factory Industry Production Index FIPIincreased by 3.6 per cent on year-on-year basis in November 2013,mainly due to the increase in wearing apparel sector which recorded a
highest growth of 10.9 per cent, supported by increased orders fromU.S and Euro areas and also the shifting orders from Bangladesh due tosafety issues expected to further facilitate the growth of this sector.
All the three sectors of the economy rebounded during the 3rd quarterof 2013, in comparison with the same tenure of the last year; wherenoteworthy recovery in the Agriculture Sector could be observed due tothe improved Yala harvest.
Real Sector & Inflation
Crude oil prices showed some volatility during the beginning of March2014. Higher prices were mainly caused by worries over supplydisruptions of world's biggest oil producer, Russia due to their militaryintervention in Crimea peninsula in Ukraine. However, the increment in oil
prices were restrained due to a drop in China's exports stocks reflectinga slowdown in the world's second largest economy.
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February
2014
Colombo Consumers' Price Index (CCPI ) 177.8 177.5 170.7
Annual Average Change % 6.0 6.5 8.6
Year - on - Year Change % 4.2 4.4 9.8
Core Inflation - ( CCPI ) 170.6 170.1 165.4
Annual Average Change % 3.8 4.1 6.3
Year - on - Year Change % 3.1 3.5 7.4
Week Ending Week EndingMar 13 Mar 13
Rice
Samba 72.50 70.00 71.38 66.57 78.00 78.00 77.75 70.46Kekulu (Red) 59.00 59.00 59.75 52.39 65.00 65.00 66.50 59.60
Vegetables
Beans 100.00 60.00 72.50 107.69 120.00 80.00 92.50 134.42
Cabbage 20.00 40.00 29.00 64.76 40.00 60.00 52.50 92.88
Carrots 60.00 60.00 75.00 108.94 80.00 80.00 97.50 133.46
Tomatoes 60.00 35.00 47.50 67.84 80.00 60.00 77.50 99.81
Pumpkins 30.00 30.00 21.50 37.12 40.00 50.00 42.50 57.60Snake Gourd 50.00 40.00 42.50 55.69 70.00 60.00 65.00 80.77
Brinjals 40.00 40.00 45.00 61.42 60.00 60.00 70.00 85.58
Ash-Plantains 50.00 40.00 57.50 63.27 70.00 60.00 77.50 84.23
Other Foods
Red-Onions (Local) n.a 65.00 60.00 148.68 100.00 80.00 90.00 182.38
Big-Onions (Local) n.a n.a n.a. 97.21 n.a n.a n.a. 127.22
Potatoes (N'Eliya) 82.50 85.00 77.50 96.95 110.00 120.00 100.00 117.31
Dried Chilies (Imported) 187.00 183.00 188.25 176.50 220.00 220.00 220.00 219.71
Dhal (Indian) 135.00 134.00 139.75 131.39 160.00 160.00 157.50 148.85
Eggs (Red) 14.50 14.50 13.00 13.39 15.00 15.00 13.50 13.89
Coconut (Each) 38.00 39.00 39.75 37.62 45.00 45.00 50.00 43.98
Fish
Kelawalla 430.00 350.00 360.00 387.27 580.00 640.00 421.25 477.31
Balaya 280.00 280.00 242.50 280.00 330.00 400.00 292.50 341.76
Salaya 60.00 40.00 75.00 134.71 100.00 80.00 105.00 179.04
Paraw (Small) 500.00 400.00 360.00 442.60 550.00 460.00 405.00 505.60
* Prices collected from the Fisheries Trade Centre, Peliyagoda.
Year AgoAnnual Avg
Item
Rs / Kg Rs / Kg
Average Wholesale Prices Average Retail Prices
MonthAgo
Year AgoAnnual Avg
MonthAgo
WeekAgo
WeekAgo
Month
Ago
Year
AgoItem
(2006 / 07 = 100)
4
5
6
7
89
10
J F M A M J Jy A S O N D
AnualAverage
CCPI - Anual Average
2014
2013
Month
1.1 Price Indices
1.2 Pettah Market
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Wholesale
(Average)Retail (Average) Mar 12 Week Ago
Rice Rice
Samba 73.00 76.00 Samba 75.33 75.33
Kekulu (Red) 59.50 63.50 Kekulu (Red) 56.67 58.00
Vegetables Vegetables
Beans 71.00 101.00 Beans 90.00 86.67
Carrot 46.50 83.00 Cabbage 70.00 70.00
Tomatoes 26.10 54.00 Carrots 96.67 100.00
Pumpkins 22.90 41.00 Tomatoes 80.00 80.00
Snake Gourd23.50 42.50
Pumpkins66.67 66.67
Ash-Plantains 39.00 57.50 Snake Gourd 100.00 106.67
Other Foods Brinjals 73.33 73.33
Red-Onions (Local) 55.00 72.50 Ash-Plantains 100.00 93.33
Big-Onions (Local) n.a n.a Other Foods
Potatoes (N'Eliya) 84.00 102.00 Red-Onions (Imported) 120.00 106.67
Dried Chilies(Imported) 195.30 240.00 Big-Onions (Imported) 60.00 76.67
Coconut (Each) 33.60 42.50 Potatoes (Imported) 76.67 80.00
Dried Chilies (Imported) 220.00 220.00
Dhal (Indian) 160.00 163.33
Average wholesale price of Rice Eggs (Red)(Each) 15.00 14.50
Week Ending Coconut (Each) 48.33 46.67
Mar 14 FishSamba 66.02 63.70 65.57 62.64 Kelawalla 550.00 650.00
Sudu Kekulu 61.20 60.90 60.94 52.03 Balaya n.a. 360.00
Raw Red 57.70 57.52 55.91 49.55 Salaya 60.00 80.00
Nadu 62.14 61.72 62.07 53.71 Paraw (Small) 590.00 840.00
Item
(Rs / Kg)
Week
Ago
Item (Rs / Kg)Week Ending Mar 13
Item (Rs / Kg)Average Retail Prices
Month
Ago
Year
Ago
32.00
42.00
52.00
62.00
72.00
82.00
J/1
F/1
M/1
A/1
M/1
J/1
Jy/1
A/1
S/1
O/1
N/1
D/1
D/5
Rs./kg
Rice - Kakulu
2013
2012
Months
306090
120150180210240
J/1
F/1
M/1
A/1
M/1
J/1
Jy/1
A/1
S/1
O/1
N/1
D/1
D/5
Rs./kg
Beans20132012
Months
30
60
90
120
150
180
J/1
F/1
M/1
A/1
M/1
J/1
Jy/1
A/1
S/1
O/1
N/1
D/1
D/5
Rs./kg
Potatoes
2013
2012
Months
200250300350400450500550
J/1
J/4
F/3
M/2
A/1
A/4
M/3
J/2
Jy/1
Jy/4
A/3
S/2
O/1
O/4
N/3
D/2
Rs./kg
Kelawalla
20132012
Months
32
42
52
62
72
82
J/1
F/1
M/1
A/1
M/1
J/1
Jy/1
A/1
S/1
O/1
N/1
D/1
D/5
Rs./kg
Rice - Kakulu
20132012
Months
306090
120150180210240270
J/1
F/1
M/1
A/1
M/1
J/1
Jy/1
A/1
S/1
O/1
N/1
D/1
Rs./kg
Beans
20132012
Months
40
70
100
130
160
190
J/1
J/4
F/3
M/2
A/1
A/4
M/3
J/2
Jy/1
Jy/4
A/3
S/2
O/1
O/4
N/3
D/2
Rs./kg
Potatoes
20132012
Months
250
325
400
475
550
625
J/1
J/4
F/3
M/2
A/1
A/4
M/3
J/2
Jy/1
Jy/4
A/3
S/2
O/1
O/4
N/3
D/2
Rs./kg
Kelawalla
20132012
Months
1.3 Dambulla Market 1.4 Narahenpita Economic Centre
Table 1.5 Maradagahamula Market
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2013(a) 2012
Dec Dec
Central Government Employees (b) 5,653.3 5,304.7 6.6
Workers in Wages Boards Trades 3,938.1 3,662.9 7.5Agriculture 4,449.0 4,434.4 0.3
Industry & Commerce 3,459.1 2,402.1 44.0
Services 2,313.2 1,851.8 24.9
2013 (b) 2012
Nov Nov
Factory Industry- Production Index 112.8 108.8 3.6
Food products 102.6 107.3 -4.4
Beverages 99.0 95.0 4.3
Tobacco products 103.0 94.4 9.1 Wearing apparel 139.7 126.0 10.9
Chemicals and chemical products 84.3 94.1 -10.3
Rubber and plastic products 122.3 114.8 6.5
Other non-metallic mineral products 100.8 104.0 -3.0
(a) Major 7 sub divisions of FIPI out of 17 sub divisions.
(b) Provisional
2013* 2012*
Jan - Dec Jan - Dec
Tea (Mn Kg) 340.2 328.4 3.6
Rubber (Mn Kg) 130.4 152.0 -14.2
Coconuts (Mn Nuts) 2,513.3 2,939.5 -14.5
* Provisional
2013* 20123rdQuarter 3rdQuarter
Agriculture 7.0 -0.5 5.8
Industry 8.1 7.3 10.3
Services 7.9 4.6 4.6
GDP 7.8 4.8 6.4
* Provisional Source: Department of Census and Statistics
2012
AnnualItem
Item Unit%
Change
Item%
Change
(1978 = 100)
Item%
Change
3200
36004000
4400
4800
5200
5600
6000
Ind
exValue
Wage Indices (1978 = 100)
CentralGovt.WagesBoards
Months
80
90
100
110
120
130
J F M A M J Jy A S O N D
I
ndex
Factory Industrial Production
2012
2013
Months
050
100150200
250300350
J F M A M J Jy Au S O N D
Mn.kg
.
Tea Production
2013
2012
Months
01234
56789
10'Q1
10'Q2
10'Q3
10'Q4
11'Q1
11'Q2
11'Q3
11'Q4
12'Q1
12'Q2
12'Q3
12'Q4
13'Q1
13'Q2
13'Q3
PercentageChange
Real GDP
Quater
1.6 Wage rate Indices
1.7 Factory Industry-Production (FIPI) ( 2010 = 100 ) (a)
1.8 Agriculture Production
1.9 GDP by Industrial Origin at Constant (2002) Prices - Growth Rates
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2013(a)
2ndQuarter
Labour Force Participation rate 54.2 51.5 52.6
Unemployment rate 4.4 3.9 4.0
Employed Persons by Sectors %
Agriculture 31.5 30.3 31.4Industry 26.2 26.9 26.3Services 42.3 42.8 42.3(a) The working age population aged 15 and above Source: Department of Census and Statistics
January 113.95 94.76 111.22 109.21 94.71 112.75February 117.39 95.32 111.16 110.01 100.82 109.31
March 109.63 92.94 106.57
April 103.40 92.02 111.17
May 103.04 94.51 108.91
June 103.16 95.77 105.29
July 108.62 104.51 -
August 112.94 106.58 113.48
September 113.63 106.19 111.01
October 109.88 100.54 -
November 108.10 93.77 110.39
December 111.37 97.62 112.13
07 March 111.58 91.53 110.04 102.82
10 March - - 109.17 101.39
11 March 109.80 92.07 109.25 100.29
12 March 109.64 92.44 108.78 98.29
13 March 108.67 92.47 108.36 98.57
Sources: Reuters Energy Information Administration
Ceylon Petroleum Corporation
Item2012(a)
2ndQuarter
2012(a)
Annual
2013 2014
(*) CPC import prices are not directly comparable with spot prices of WTI and Brent as CPC is import prices include freight charges and the price is
weighted for average prices of different types of crude oil. Also Part of the imports of CPC are on a term contract basis.
Month
2013 2014
Spot Prices (US $/bbl) Spot Prices (US $/bbl)
Brent
(Benchmark
price)
CPC Import
Prices (C&F)
(US$/bbl)(*)
Brent
(Benchmark
price)
WTI
(Benchmark
price)
CPC Import
Prices (C&F)
(US$/bbl)(*)
WTI
(Benchmark
price)
5.1
5.3
5.2
5.2
5.3
6.2
5.95.7
5.0
5.4
4.94.5
4.3
4.2
3.9
3.9
4.0 3.9
4.6
4.4
02
4
6
8
10
12
'1Q0
8
'2Q0
8
'3Q0
8
4Q0
8
1Q0
9
2Q0
9
3Q0
9
4Q0
9
1Q1
0
2Q1
0
3Q1
0
4Q1
0
1Q1
1
2Q1
1
3Q1
1
2Q1
2
3Q1
2
4Q1
2
1Q1
3
2Q1
3
Rate
Unemployment Rate
Year/ uarter
60
80
100
120
140
Jan-11
Mar-11
May-11
Jul-11
Sep-11
Nov-11
Jan-12
Mar-12
May-12
Jul-12
Sep-12
Nov-12
Jan-13
Mar-13
May-13
Jul-13
Sep-13
Nov-13
Jan-14
IndexValue
Crude Oil Prices
Brent
WTI
Months
1.10 Employment
1.11 Average Crude Oil Prices
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All short term market lending rates continued to adjust downwards from
end 2013 levels in response to the compression of the Standing RateCorridor (SRC) and excess liquidity. Weekly AWPR declined by 125 bps to 8.88 per cent for the week ending
14 March 2014 compared to end 2013. The Average Weighted DepositRate (AWDR) and the Average Weighted Fixed Deposit Rate (AWFDR)for February 2014 also declined by 54 basis points (to 8.83 per cent) and79 basis points (to 10.99 per cent), respectively from end 2013.
The growth of credit extended to the private sector, on a year-on-yearbasis in December 2013 was 7.5 per cent compared to 7.3 per cent inNovember 2013.
The All Share Price Index (ASPI) and the S&P SL 20 Index decreasedmarginally by 0.28 per cent and 1.74 per cent to 5,896.2 points and 3,207.1points, respectively by 14 March 2014 compared to end 2013.
The total outstanding market liquidity has been fluctuating around Rs 197billion through out the week. This has been absorbed through various OMOinstruments. Majority of the liquidity have been absorbed through theTerm Repo transactions while another considerable amount has beenabsorbed through Short-term repo auctions.
Monetary Sector
KeyHighlights
The reserve money has been increased compared to the previous weekmainly due to increase in currency in circulation (i.e. due to net currencywithdrawals with the CBSL by the commercial banks).
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Week Ending
March 14
Commercial Bank Average Weighted Prime Lending Rate (AWPR) 8.88 8.74 13.81
Treasury Bill Yield (Excluding 10% withholding tax)
- 91 days 6.69 6.71 9.16- 182 days 6.85 6.88 10.15
- 364 days 7.06 7.07 11.19
Standing Deposit Facility 6.50 6.50 7.50
Standing Lending Facility 8.00 8.50 9.50
Call Money Weekly Average (CMR) 6.91 6.88 9.42
Sri Lanka Inter Bank Offer Rate ( SLIBOR )
1 day 7.00 7.00 9.48
7 days 7.60 7.60 10.17
1 Month 8.03 8.02 12.03
3 Months 8.49 8.50 12.84
6 Months 8.87 8.90 13.33
12 Months 9.36 9.41 13.86
Commercial Banks Oct 2013 Month Ago Year Ago
Saving Deposits - 0.75-9.00 0.75-9.00 0.75-10.50
One Year Fixed Deposits - 6.00-16.00 6.00-16.00 5.00-16.00
Feb 2014 Month Ago Year Ago
Commercial Bank Average Weighted Deposit Rate (AWDR) 8.83 9.14 10.56
Commercial Bank Average Weighted Fixed Deposit Rate (AWFDR) 10.99 11.46 13.82
Jan 2014 Month Ago Year Ago
Commercial Bank Average Weighted Lending Rate (AWLR) 14.83 15.18 16.12
NSB Oct 2013 Month Ago Year Ago
Saving Deposits - 5.00 5.00 5.00
One Year Fixed Deposits - 10.00 10.00 12.50
(08 Y & 04 Months) (09 Y & 10 Months) (14 Y & 10 Months)
26/02/2014 26/02/2014 26/02/2014
Coupon rate 11.20 11.40 13.00
Weighted Average Yield (Excluding 10% withholding tax) 9.90 10.00 10.76
Week ending Week ending
March 14 March 14
Bank of Ceylon 11.74 11.92 9.42 9.38
People's Bank 10.63 12.57 9.42 9.46
Hatton National Bank 8.80 8.81 9.72 10.26
Commercial Bank of Ceylon 8.25 7.97 8.51 10.08
Sampath Bank 9.16 8.29 8.04 8.04
Seylan Bank 9.16 9.60 10.90 10.90
Union Bank of Colombo 9.91 11.62 11.40 11.40Pan Asia Banking Corporation 9.00 9.00 10.00 9.42
Nations Trust Bank 8.41 8.27 12.26 11.71
DFCC Vardhana Bank 11.62 11.37 13.09 13.09
NDB Bank 8.22 8.21 10.09 10.09
Amana Bank 10.45 10.44 - -Axis Bank
Indian Bank
Indian Overseas Bank
Treasury Bonds Auction
Bankwise- AWPR Week Ago
HSBC
Bankwise- AWPR
Standard Chartered Bank
Citi Bank
Deutsche Bank
Habib Bank
MCB Bank
State Bank of India
Public Bank
ICICI Bank
Week Ago
Item Week Ago Year Ago
6
78
9
10
11
12
J/12
A Jy O J/13
A Jy O
R
ate
Call Money RatesMinAvgMax
Months
7.47.67.88.08.28.48.68.89.09.29.4
1 3 5 7 9 11 13 15 17 19
Rate
Weekly
Min
Avg
Last 4 Weeks
2.1 Interest Rates
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2013 (a) 2013 (a)
December December
M1 484.6 454.4 450.0 7.7 5.7 2.6
M2 3,058.8 2,997.7 2,593.2 18.0 18.5 18.3
M2b 3,417.9 3,363.1 2,929.1 16.7 16.7 17.6
Net Foreign Assets of the Banking System (b) -76.3 -63.6 -25.8 -195.5 -154.0 -126.3Monetary Authorities 529.1 479.9 396.5 33.5 34.8 16.6
Domestic Banking Units (DBUs) -231.2 -197.4 -121.9 -89.7 -75.0 -91.2
Foreign currency Banking Units(FCBUs) -374.3 -346.1 -300.4 -24.6 -29.1 -68.5
Net Domestic Assets of the Banking System (b) 3,494.2 3,426.7 2,954.9 18.3 17.9 23.4
DBUs 2,996.5 2,947.5 2,541.5 17.9 17.2 19.1
FCBUs 497.7 479.2 413.4 20.4 22.9 59.2
Net Credit to Government 1,301.3 1,325.5 1,045.2 24.5 25.6 25.4
Monetary Authorities 114.0 127.8 278.8 -59.1 -61.3 6.1
DBUs 995.7 1,005.4 634.0 57.0 70.6 34.1
FCBUs 191.7 192.4 132.4 44.8 41.8 35.0
Credit to Corporations 365.1 308.0 292.5 24.8 18.0 47.3
DBUs 164.7 124.5 91.3 80.4 72.1 27.8FCBUs 200.4 183.5 201.2 -0.4 -2.8 58.3
Credit to the Private Sector 2,534.3 2,519.0 2,358.4 7.5 7.3 17.6
DBUs 2,327.4 2,309.3 2,172.1 7.1 7.0 19.2
FCBUs 207.0 209.7 186.3 11.1 9.9 1.1
Reserve Money 488.6 472.0 484.4 0.9 -1.0 10.2(a) Provisional (b) In relation to M2b
Change
Reserve Money (Rs.Mn.) 506,425 498,470 7,955
10.03.2014 11.03.2014 12.03.2014 13.03.2014 14.03.2014
Call Money Market
Weighted Average Rate (% p.a.) 6.89 6.88 6.89 6.95 6.94
Gross Volume (Rs. Mn) 2,125 6,330 5,382 5,300 3,610Repo Market
Weighted Average Rate (% p.a.) - - - - -
Gross Volume (Rs. Mn) - - - - -
10.03.2014 11.03.2014 12.03.2014 13.03.2014 14.03.2014
CBSL T-Bill Holding (Rs. Mn) 49,597 49,597 49,597 49,597 39,990
Item
Item
13 March
2014Week Ago
Rs. Bn.
Month
Ago
Year
Ago
Month
Ago
Year
Ago
Item
Annual Change (%)
Item
400
450
500
550
600
J/1
F/3
M/5
M/2
J/4
A/1
S/3
O/4
D/2
Rs.Bn.
Weekly change inReserve Money
20132012
Months
-6.5
-1.5
3.5
8.5
13.5
J F M A M J Jy A S O N D
Percentage
Money Supply - M1
20122013
Months
16
17
18
19
20
2122
23
24
J F M A M J Jy A S O N D
Percentage
Money Supply - M2
20122013
Months
14
16
18
20
22
24
J F M A M J Jy A S O N D
Percentage
Money Supply - M2b
2012
2013
Months
2.2 Money Supply
2.3 Weekly change in Reserve Money
2.4 Money Market Activity (Overnight)
2.5 CBSL Security Portfolio
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10.03.2014 11.03.2014 12.03.2014 13.03.2014 14.03.2014
Short-Term Auction
Repo Amount Offered (Rs. bn) 10.00 - - - 20.00
Reverse Repo Amount Offered (Rs. bn) - - - - -
Tenure (No. of Days) 4.00 - - - 7.00
Bids Received (Rs. bn) 10.56 - - - 2.80
Amount Accepted (Rs. bn) 10.00 - - - 2.80
Weighted Average Yield Rate (% p.a.) 6.64 - - - 6.67Term Auction
Repo Amount Accepted (Rs. bn) - - - - 21.62
Reverse Repo Amount Accepted (Rs. bn) - - - - -
Standing FacilityStanding Deposit Facility (Rs. bn) 7.07 5.19 3.36 0.86 21.19
Standing Lending Facility (Rs. bn) - - - - -
Total Outstanding Market Liquidity (Rs. bn) 203.24 201.36 199.53 197.04 182.40
2013 (a) 2013(b) 2012
End Sep End Aug End Dec
Total Number of Active Cards 926,614 938,621 891,170
Local (accepted only locally) 36,749 36,973 39,963
Global (accepted globally) 889,865 901,648 851,207
Outstanding balance (Rs. Mn.) 49,305 48,339 44,445
Local (accepted only locally) 1,204 1,201 1,183
Global (accepted globally) 48,101 47,138 43,262
(a) Provisional (b) Revised * Issued by Licensed Commercial Banks
2013 (a) 2013 2012
End Sep* End Aug End Dec
Total Issues - Cummulative 21.9 20.2 36.9
Outstandin (as at end of the period ) 9.3 9.4 10.6
* provisional
Week Ending14 Mar 2014
All Share Price Index (1985 = 100) (ASPI) 5,896 5,966 5,689
S & P Sri Lanka 20 Index (S&P SL20) 3,207 3,245 3,241
Average Daily Turnover (Rs. Mn) 421 372 700
Market Capitalisation (Rs.Bn.) 2,463 2,492 2,187
Item Week Ago Year Ago
Item
Item ( Rs. bn.)
(1) Based on the information provided by Licensed Commercial Banks and Licensed
Specialised Banks
Item
20002500300035004000450050005500600065007000
J ,12 M M Jy S N J '13 M M Jy S
Index
Share Market - Month End
ASPIS&P
Months
250030003500
4000450050005500600065007000
1 3 5 7 9 11 13 15 17 19
Index
Share Market - Daily
ASPIS&P
Months
05
10152025303540
J F M A M J Jy A S O N D
Rs.Bn
Commercial Paper Issues
20122013
Month
2.6 Open Market Operations
2.7 Credit Cards *
2.8 Commercial Paper Issues (1)
2.9 Share Market
Page 09
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Total revenue collection during the first nine months of 2013 increased
largely through higher collection of income and domestic consumptionbased taxes, reflecting an improvement in the tax revenue collection.
Capital expenditure was maintained at a healthy level with the continuationof major infrastructure projects..
Total debt stock as at end September 2013 marginally increased from theprevious month due to an increase in the foreign debt stock arising from
project related financing and foreign investments in governmentsecurities.
Fiscal Sector
KeyHighlights
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2013 * 2012
Jan-Sep Jan-SepRevenue and Grants 783.2 774.3Revenue 780.2 759.9
Tax 706.7 678.1 Non tax 73.5 81.8Grants 3.0 14.4Expenditure & Lending Minus Repayments 1,275.10 1257.4
Current 920.0 886.2 Capital & Lending Minus Repayments 355.1 371.2* Provisional
2013 * Month Year
End Sep ago agoTotal domestic debt 3,828.8 3,835.6 3,280.4
of which Treasury bills 719.0 771.4 626.8 Treasury bonds 2,421.5 2,449.1 2,161.8 Rupee loans 55.5 55.5 58.4
Total foreign debt 2,971.6 2,948.4 2,887.9
Total outstanding govt. debt 6,800.4 6,784.0 6,168.4
* Provisional
Buying Selling Average
3 Months 6.69% 6.72% 6.76% 6.65% 6.71% 6.72%
6 Months 6.85% 6.89% 6.91% 6.78% 6.85% 6.85%
12 Months 7.06% 7.07% 7.10% 7.01% 7.05% 7.06%
2 < Years - - 7.63% 7.55% 7.59% 7.48%
5 < Years 8.83% - 9.58% 9.38% 9.48% 9.39%
6 < Years - - 9.98% 9.87% 9.93% 9.91%
8 < Years - 9.90% 10.22% 10.08% 10.15% 10.12%
10 < Years - 10.00% 10.46% 10.29% 10.38% 10.33%
15 < Years 10.76% 10.76% 10.85% 10.73% 10.79% 10.79%
20 < Years - 11.07% 11.13% 10.87% 11.00% 11.00% 30 < Years - - 11.53% 11.15% 11.34% 11.34%
Comments:Preassure on the domestic market was eased due to Intaernational Sovereign Bond Issue in January 2014.* Primary market transactions during the week ending 12/03/2014
Maturity This Week
Secondary Market
Treasury Bonds
Last Week
Average
Primary Market*
This Week Last WeekSecurity
Treasury Bills
Item
Item
0200400600800
1000
12001400
1600
J13
F M A M J Jy A S
Rs.Bn.
Government Revenue &Expenditure 2013
Revenue
Months
0
1000
2000
3000
4000
5000
2013 / Apr2013 / Aug2013 / Sep
Rs.Bn
Government Debt
DomesticForeign
3.1 Government Finance (Rs.bn)
3.2 Government Debt (Rs.bn)
3.3 Government Securities - Primary and Secondary Market Yield Rates as of 2014.03.12
6.00%
7.00%
8.00%
9.00%
10.00%
11.00%
12.00%
13.00%
Yield
CurrentYear Ago
4.00%5.00%6.00%7.00%8.00%9.00%
10.00%11.00%12.00%13.00%
Yield
Current
Treasury Bills Treasury Bonds
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This Week Last Week
Outstanding Stock of Government Securities
Treasury Bills 827,488.51 829,642.60
Treasury Bonds 3,027,989.03 3,003,590.25
Total 3,855,477.54 3,833,232.85
Government Securities held by Foreigners 489,713.12 489,205.47
Sri Lanka Development Bonds (SLDB) 368,507.74 368,798.59
This Week Last Week
Treasury Bills
Amount Offered 10,000.00 18,000.00
Total Bids Received 36,082.00 53,713.00Total Bids Accepted 18,252.00 27,073.00
Treasury Bonds
Amount Offered
Total Bids Received
Total Bids Accepted
This Week Last Week Treasury Bills
47,713.27 44,555.90
188,136.00 184,445.10
Treasury Bonds
58,380.95 58,642.80
221,496.35 173,153.10
Volume in Rs Mn
Comment:Foreign holdings on government securities has increased showing improved investor confidence.
No Auction held
Comment: The ratio of amount accepted to amount offered in the T bill auction has been increased to 1.8 comparative to the same
ratio of 1.5 of the previous week's auction, illustrating the improved investor preference for the government papers.
Comment: Secondary Market repo transactions on T bonds has increased showing the investor preference on leveraging due to
improved confidence.
Item/ Week Ended
Outright Transaction (Sales / Purchases) Repo Transaction (Sales / Purchases)
Outright Transaction (Sales / Purchases)
Repo Transaction (Sales / Purchases)
Primary Market ActivitiesVolume in Rs Mn
Secondary Market ActivitiesVolume in Rs Mn
No Auction held
3.4 Government Securities - Weekly Summary of Primary and Secondary Market Transactions
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During the year so far (up to 14 February 2014) the rupee remainedalmost flat against the US dollar with a slight appreciation of 0.09 percent. Given the cross currency exchange rate movements, the Sri Lankarupee depreciated against the euro (0.39 per cent), the pound sterling(0.72 per cent), the Japanese yen (2.91 per cent) and the Indian rupee(1.11 per cent) during this period.
The reduction in import price index year-on-year, over increase in exportprice index resulted in an improvement in the terms of trade inDecember 2013.
In line with the significant price reduction recorded for key commoditiesin international markets such as petroleum products, the import priceindex declined in December 2013.The export price index increased, driven by the increase in prices oftextiles and garments and tea, the two major export items whichaccount for more than 60 per cent of total exports.
The average price of tea in the Colombo auction continued to increasecompared to other major tea auction centres in December 2013, mainlydue to increased demand for high quality Ceylon tea.
Exports recovered in 2013, despite the downward movement incommodity prices in the international market and a fragile recovery inthe global economy.The largest contribution to the growth in earnings came from industrialexports, mainly due to the improved performance in textiles andgarments, which contributed 43 per cent to total export earnings in2013.Expenditure on imports declined in 2013, reflecting the impact of policymeasures adopted in 2012 to rationalise imports as well as due tosubdued commodity prices in international markets.The trade deficit contracted sharply in 2013 with the pickup in exportstogether with the continued decline in imports.
External Sector
KeyHigh
lights
The continued peaceful environment in the country together withstrategic investments and tourist promotional campaigns resulted in asignificant increase in tourist arrivals to Sri Lanka in 2013.Tourist arrivals in 2013 amounted to 1,274,593, surpassing the initial
target of 1.2 million to record arrivals.Although Western Europe continued to be the prime source market for
tourists to Sri Lanka, tourist arrivals from emerging markets increasedsignificantly in 2013.Gross earnings from workers remittances increased notably, due to
increase in remitting money through formal channels, specially becauseof the introduction of new web based money transferring systems.
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Buying Selling Average Week YearRate Rate Rate Ago Ago
129.20 132.10 130.65 130.60 126.33
214.01 220.16 217.09 218.52 190.631.26 1.30 1.28 1.27 1.32
178.12 183.98 181.05 180.66 164.29
2.14 2.14 2.33
( As at 13 Mar 2014 ) 202.87 202.61 190.38
December Month Year
2013 go go
239.20 20.00 77.00
11.45 51.38 6.30
Week Ending Week YearMarch 14 Ago Ago
Average Daily Interbank Volume (US$ Mn.) 67.57 56.38 73.28(spot, tom and cash transactions among commercial banks)
Forward Rates (US$) (2)
1 Month 131.12 131.20 127.49
3 Months 132.14 132.64 129.18
Average Daily Interbank Forward Volume (US$ mn) 28.58 16.05 28.03
Outstanding Forward Volume (US$ mn) ( As at 13 Mar 2014 ) 964.50 922.56 1,000.77
*Commercial Bank Avg. Middle Rate (prevailing at 9.30a.m.)
**Central Bank purchases and sales of foreign exchange from commercial banks at market rates total for the Month
(1) Central Bank indicative rate (2) Weekly average based on actual transactions.
2013* 2012
Jan - Dec Jan - DecTourist Arrivals 153,918 122,252 1,274,593 1,005,605 26.7
Earnings from Tourism US$ Mn. 169.3 (a) 133.5 1,402.1 (a) 1,038.7 35.0Rs.bn. 22.2 (a) 17.1 181.2 (a) 132.4 36.8
Workers' Remittances (Inflows) US$ Mn. 622.5 (b) 553.2 6,621.1 (b) 5,985.3 10.6Rs. bn. 81.4 (b) 71.0 855.3 (b) 764.0 12.0
(a) Provisional (b) Revised
Yen
Euro
INR(1)
Central Bank purchases and sales**
(US$ Mn. )Purchases
SDR
(Rs Per Unit)*
US$
STG
Average RateItem Week Ending - March 14
Forward Transactions
Sales
Dec
2012Item Dec 2013 % Change
80
120
160
200
240
J/11
AJy O
J/12 AJ
y O
J/13 A
Rate
Month End
STGUS$
Months
4.1 Exchange Rates
4.2 Tourism & Workers' Remittances
80240400560720880
1040
1200
J F M A M J Jy A S O N DNoofarrivals'00
0
Tourist Arrivals Cumulative
2012
2013
Month
200
300
400
500
600700
800
J F M A M J Jy A S O N D
US$Mn
Private Remittances - Inflows
20132012
Month
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Official Reserve Assets(b) 7,005.11(c)
(1) Foreign currency reserves 6,001.30 (a) Securities 3,287.28
(b) Total currency and deposits with 2,714.02
(i) other national central banks 957.24
1,756.78
(2) Reserve position in the IMF 73.47
(3) SDRs 15.50
(4) Gold 913.87
(5) Other reserve assets 0.98
Up to1
month
More than 1
and up to 3
months
More than 3
months and up to
1 year
Principal -3,212.31 -177.40 -401.13 -2,633.78
Interest -1,252.41 -44.37 -255.37 -952.67
Principal
Interest
-2,063.00 -212.87 -147.00 -1,703.13
819.37 819.37
819.46 819.46
-0.09 -0.09
a rov s ona
(b) Including the Asian Clearing Union (ACU) balances
(c) By end November 2013, the total level of foreign reserves were equivalent to 5.6 months of imports and gross official
reserves were equivalent to 4.7 months of imports
(d) This mainly includes only the predetermined outflows
(e) A major share of SWAP outstanding will be rolled over.This mainly includes SWAP arrangements with state banks
which mobilised long-term foreign finance from international bond issuances.
Predetermined Short-Term Net Drains on Foreign Currency Assets(d)
Official Reserve Assets (USD mn)
(ii) banks headquartered outside the reporting country
other accounts payable ()
2. Aggregate short and long positions in forwards and
futures in foreign currencies vis--vis the domestic currency
(including the forward leg of currency swaps)
(a) Short positions ()(e)
(b) Long positions (+)
3. Other (specify)
inflows related to reverse repos (+)
Item Total
Maturity breakdown (residual maturity)
1. Foreign currency loans, securities, and deposits
outflows ()
inflows (+)
4.3 International Reserves & Foreign Currency Liquidity as at 30 November 2013(a)
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Jan-Dec Jan-Dec Jan-Dec Jan-Dec
2013 2012 2013 2012
Exports 10.4 9.8 6.3 1,343.0 1,245.5 7.8
Agricultural 2.6 2.3 10.7 333.9 297.7 12.2
Industrial 7.7 7.4 5.0 1,000.7 938.8 6.6
Food, Beverages and Tobacco 0.2 0.3 -17.3 30.4 36.3 -16.2
Textiles and Apparel 4.5 4.0 13.0 583.0 508.6 14.6
Petroleum Products 0.4 0.5 -7.6 55.1 58.9 -6.4
Leather, Rubber etc 1.0 0.9 5.4 124.7 116.5 7.0
Other 1.6 1.7 -6.5 207.4 218.4 -5.0
Mineral 0.1 0.1 -15.9 6.7 7.8 -14.1
Other 0.0 0.0 26.6 1.6 1.2 29.2
Imports 18.0 19.2 -6.2 2,322.7 2,441.9 -4.9
Consumer Goods 3.2 3.0 6.3 411.0 381.0 7.9
Intermediate Goods 10.6 11.6 -8.9 1,361.3 1,474.5 -7.7
Investment Goods 4.3 4.6 -7.3 548.6 582.9 -5.9
Other 0.0 0.0 -50.0 1.8 3.5 -48.2
Trade Balance -7.6 -9.4 19.2 -979.7 -1,196.3 18.1
2013**
December
Total Exports
Value 137.5 143.6 121.2
Quantity 116.2 121.5 103.1
Unit Value 118.3 118.2 117.6
Total Imports
Value 138.8 140.5 136.0
Quantity 124.3 131.9 121.3
Unit Value 111.6 106.5 112.2
Terms of Trade 106.0 111.0 104.8
* In US$ Terms ** Provisional
Dec Dec Dec Dec
2013 2012 2013 2012
Colombo Auction Price
Tea Prices 3.81 3.30 15.2 497.97 424.06 17.4
Imports (C I F)
Rice 704.00 711.57 -1.1 92,103 91,327 0.8White Sugar 480.75 584.90 -17.8 62,895 75,070 -16.2
Wheat 310.85 381.83 -18.6 40,668 49,007 -17.0
Crude Oil 112.13 114.25 -1.9 14,670 14,664 0.0
US$ / MT Rs / MT
US$ / Barrel Rs / Barrel
US$ / Kg Rs / Kg
% Change % Change
Month
AgoItem
Year
Ago
Item
Item
US$ Bn Rs Bn
% Change % Change
68
88
108
128
J F M A M J Jy A S O N D
IndexValue
TRADE INDICES Termsof Trade (2010=100)
2012
Months
0
2000
4000
6000
8000
10000
12000
J M M Jy S N
US$Mn
Exports
2012
Months
0250050007500
100001250015000175002000022500
J M M Jy S N
US$Mn
Imports
20122013
Months
4.4 External Trade
4.5 Trade Indices (2010= 100 )
4.6 International Commodity Prices
300
350
400
450
500
550
J M M Jy S N
Rs./Kg.
Tea Prices(Imported)
20122013
Months
60
80
100
120
J F M A M J Jy A S O N D
Rs./Kg.
Rice rices(Imported)
2012
Months
9
12
15
18
J F M A M J Jy A S O N D
Rs'00
0./Barrel.
Crude Oil (Imported)
20122013
Months
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