Time for self immolation for donkys who predicted collapse of Sri Lankan economy and vanishing of foriein reserves..
Sri Lanka foreign reserves rise 23 pct to $1.6 bln
http://www.iii.co.uk/news/?type=afxnews&articleid=7403273&subject=economic&action=article
COLOMBO, July 2 (Reuters) - Sri Lanka's foreign currency reserves have risen by over 23 percent in two months as funds flowed into the country after the end of its long war against the Tamil Tigers, the central bank governor said on Thursday.
'The reserves are now at over $1.6 billion as of today and it is enough to finance more than two months of imports,' Ajith Nivard Cabraal, the central bank governor, told Reuters.
Traders say it has been buying dollars at 114.90 rupees since the government declared victory in May in the 25-year civil war. That has kept the rupee from appreciating despite upward pressure from remittances, donor funds, and foreign buying of government securities. |