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Sri Lanka Equity Forum » Stock Market News » Money market boosted by $ 27M net inflow

Money market boosted by $ 27M net inflow

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1 Money market boosted by $ 27M net inflow on Wed Sep 16, 2015 10:31 am

Melissa Pereira

Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
 A net inflow of US$ 27.39 million, probably due to a culmination of the disbursement of foreign loans and exporter conversions uplifted excess liquidity by Rs 3,814.27 million to Rs 86,688 million at yesterday's trading, data showed.

Central Bank (CB) deals in spot, where transactions are settled after two market days. So, this inflow would have had been received on Friday, where the spot price at 3 p.m. was
Rs 139.25 in interbank trading at 3 p.m., at which price this conversion to dollars was executed by Ceylon FT.

As a result of this inflow, the weighted average rate (WAR) of call money fell by four basis points (bps) to 6.35%. However, the WAR of overnight market repo transactions increased by two bps to 6.41%.

Further, because of this inflow, the ratio of money printing vis-à-vis excess liquidity came down from 183.13% to 175.04% yesterday. Money printing as reflected by CB's book value (BV) T Bill holdings marginally increased to Rs 151,740.71 million yesterday. CB's BV T Bill holdings in this instance is CB's lending to the government, an action which causes demand side inflationary pressure on the economy.
Courtesy: Ceylon Financial Today 16 September 2015

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