ECONOMYNEXT – Sri Lanka’s commercial banks quoted the rupee at 365.7 against telegraphic transfers on Tuesday (31) while the central bank kept the interbank spot trade at 360.7 under a daily guidance rate.
Commercial banks were quoting 355.7/365.7 for telegraphic transfer dollars on Tuesday flat from the previous day.
Some banks were also quoting the rupee at 365.00 for TT dollar on Tuesday.
On Monday, the central bank guidance margin was set at plus 1.00 rupees or minus 4.00 rupees.
On Tuesday, the Cabinet gave the go ahead for the country to amend it’s tax acts and hike it up to 2019 levels.
A supplementary budget estimate of 695 billion rupees is also to be present in the parliment.
Sri Lanka’s Prime Minister on Sunday said that for the country’s revenues to grow at least 20 percent of the gross domestic product will take 10-years.
Therefore to increase the revenues at least by 14 percent of GDP, the PM has decided to set up two parliamentary committees.