Остров
Путешествие «По Краю»001
Dollar Rises Sharply Against Sri Lankan Rupee
News of a significant dollar rise against the rupee with the current rate and an invitation for economists to comment.
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Economy
The island's economy, prices, currency and business climate.
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Granny Explains Crypto to Island Expats
A humorous letter from a 'grandmother' in St Petersburg about the difficulty of sending money to Sri Lanka and her attempts to understand cryptocurrency.
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UnionPay Cards: Which Russian Banks Still Work Abroad
List of six Russian banks issuing UnionPay cards outside the SDN list, plus news of Tinkoff cards being blocked for Sri Lanka from a specific date.
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Fuel Quotas to Increase Next Month
Minister Kanchana Wijesekara announced an increase in fuel quotas and a revised six-month fuel supply plan.
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New Colombo–Jaffna flights and push to adopt Indian rupee
Cinnamon Air has launched regular Colombo–Jaffna flights, and President Wickremesinghe expressed intent to use the Indian rupee alongside the dollar.
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Thai Air Asia resumes Bangkok–Colombo flights
Thai Air Asia has resumed regular Bangkok–Colombo flights: the first flight arrived on July 9 carrying 134 passengers.
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New petrol and cigarette prices, inflation drops 12%
Petrol and cigarette prices rose on the island, which will likely raise tuk-tuk fares, while inflation dropped sharply by 12%.
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Minimum room rates for Sri Lanka hotels from August 2023
The government introduces minimum room rates from August 1, 2023: from $80 for three-star to $130 for five-star hotels.
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World Bank approves $500 million support for Sri Lanka
The World Bank approved the largest budget-support tranche for Sri Lanka since the IMF deal — $500 million in two disbursements.
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Parade of Lankan-Made Vehicles in Colombo
Colombo hosted a parade of over 150 vehicles manufactured in Sri Lanka, including, as it turned out, bicycles.
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Fuel Quotas to Increase from June
Sri Lanka's Minister of Energy announced on Twitter that fuel quotas will be increased starting June 2023.
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Rupee Falls Below 300 Per US Dollar
The Sri Lankan rupee has strengthened, falling below 300 per US dollar according to the Central Bank's data.
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Channel Seeks Best Currency Exchange Service for Rupees
The channel's editorial team invites subscribers to share their currency exchange services for an independent review of rates, convenience, and guarantees.
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What is depicted on Sri Lanka's banknotes
A detailed breakdown of the imagery on Lankan banknotes: birds, butterflies, bridges, power stations, and traditional dancers on denominations from 20 to 100 rupees.
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QR-Code Fuel Quotas Increased for the New Year Season
The Ministry of Energy increased QR-code fuel quotas for the New Year season, with cars and vans now allocated 30 litres each.
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Fuel Station Queues Form as Owners Await Government Price Cut
Queues at Sri Lankan fuel stations are explained by owners delaying fuel orders while awaiting the price cut by April 1 promised by the Energy Minister.
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Sri Lanka's Top 3 Exports: Tea, Brassieres, and Underwear
The morning digest notes that Sri Lanka's top exports are tea (10.4%), brassieres (5.17%), and underwear (5.06%).
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Sri Lanka's agriculture: export share and textiles
From the morning digest: as of 2008, agriculture accounts for 20% of exports and textiles for 63%; WTO clothing quotas were lifted in 2005, benefiting China.
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IMF approves $2.9 billion aid package for Sri Lanka
The IMF Executive Board approved an Extended Fund Facility program for Sri Lanka worth up to $7 billion to stabilize the economy and attract investors.
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Global oil prices fall — fuel in Sri Lanka may get cheaper
Oil prices hit a 15-month low after US bank collapses, which could lead to lower fuel prices on the island.
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Mass Strikes in Sri Lanka Over Tax Reforms
Sri Lanka faces simultaneous strikes by doctors, railway workers, university lecturers, and air traffic controllers protesting tax reforms.
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Sri Lanka rupee may hit record low by end of 2023
Fitch Solutions forecasts the Sri Lankan rupee weakening to a record 390 per dollar by end of 2023, despite hopes for an IMF programme.
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Sharp rupee appreciation: exchange rate drops to 330-340 per dollar
The Sri Lankan rupee sharply appreciated to 330-340 per dollar, linked to IMF loan conditions, interest rate changes and the approaching Sinhala New Year.
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Sri Lanka met its tourism target for February
Tourism Minister Harin Fernando announced that over 100,000 tourists visited the island in February, meeting the optimistic forecast.
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QR Codes at Sri Lanka Fuel Stations Being Phased Out from April 10
From April 10, the QR code system at Sri Lanka's fuel stations introduced during the fuel crisis is being phased out.
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Sri Lanka to Scrap Fuel QR Codes Within 3-4 Months
Energy Minister Kanchana announced the fuel QR-code system will be scrapped within three to four months once the supply chain is reorganised.
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Power cuts ended: electricity tariff to rise by 66%
The Energy Minister announced an end to power cuts from February 16 following a tariff revision — an increase of 66%.
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Exchange pause: when your currency changer runs out of cash
The humorous term 'exchange pause' describes when your money changer has no cash, with a tip for the best exchange rate.
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