LKR appreciates against US dollar by 12.1% during the year up to 13th October

In addition to that, given the cross currency exchange rate movements, the Sri Lanka rupee appreciated against the Japanese yen by 26.7 per cent, the pound sterling by 10.7 per cent, the Euro by 13.4 per cent and the Indian rupee by 12.8 per cent during this period, Weekly Economic Indicators report of the Central bank states.

Meanwhile, weekly AWPR (average lending rate)for the week ending 13th October 2023 decreased by 30 bps to 14.00 per cent compared to the previous week The reserve money decreased compared to the previous week mainly due to the decrease in the deposits held by the commercial banks with the Central Bank.

The total outstanding market liquidity was a deficit of Rs.12.225 bn by 13th October 2023, compared to a deficit of Rs. 24.598 bn by the end of last week.During the seven months ending July 2023, government revenue and grants increased to Rs. 1,516.8 bn compared to Rs. 1,093.3 bn recorded in the corresponding period of 2022.

Total expenditure and net lending increased to Rs. 2,987.7 bn during the period from January-July 2023 compared to Rs. 2,103.4 bn recorded in the corresponding period of 2022.During the period from January – July 2023, overall budget deficit increased to Rs. 1,470.9 bn compared to Rs. 1,010.1 bn recorded in the corresponding period of 2022.