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The Central Bank of Sri Lanka issues a Circulation Standard Commemorative coin to mark 150th Anniversary of Faculty of Medicine, University of Colombo

The Central Bank of Sri Lanka (CBSL) issued a circulation standard commemorative coin with a face value of Rs. 20 to mark the 150th Anniversary of Faculty of Medicine, University of Colombo in recognition of its contribution to the nation as the first medical faculty in the country. This coin was issued at the request of Faculty of Medicine, University of Colombo.

The Central Bank of Sri Lanka issues a Circulation Standard Commemorative Coin to mark 150th Anniversary of Census of Population and Housing in Sri Lanka

The Central Bank of Sri Lanka (CBSL) issued a circulation standard commemorative coin with a face value of Rs. 20 to mark the 150th Anniversary of Census of Population and Housing (CPH) in Sri Lanka, in recognition of an event that contributes to the socio-economic development of the country. This coin was issued at the request of Department of Census and Statistics (DCS) of Sri Lanka.

The first CPH in Sri Lanka was conducted in 1871 and the year 2021 marks its 150th Anniversary. The 15th CPH was originally planned to be conducted in 2021, concurrently with its anniversary. However, due to the COVID-19 pandemic 15th CPH has been postponed till 2022 - 2023.

Proposed additional incentive scheme for expatriate workers’ remittances and exporters to be rescinded

As a result of the decision of the Central Bank of Sri Lanka to allow flexibility in the exchange rate, the exchange rate seems to have now reached a level surpassing the level of incentives that was intended to stimulate expatriate workers’ remittances and conversion of export earnings. 

Condominium Market Survey - Fourth Quarter 2021

The Condominium Property Volume Index has increased significantly during Q4, 2021 with a notable increase of 49.0 per cent compared to Q4, 2020 and with a growth of 48.4 per cent compared to Q3, 2021. In the backdrop of inflationary pressures and the relatively low levels of return earned on traditional investment avenues, investors are moving toward non-traditional investment avenues, among which investment on apartments is becoming increasingly popular. Further, an observable shift is seen in the price categories of transactions. While 77 per cent of transactions were priced below Rs.25 million a year ago, it has reduced to 49 per cent in Q4, 2021. Moreover, the Single Condominium projects in the Colombo district remain to be the most preferred category in Q4, 2021.

Sri Lanka Purchasing Managers’ Index - February 2022

Purchasing Managers' Indices for both Manufacturing and Services activities expanded in February 2022 as well.

Manufacturing PMI remained expanded recording an index value of 52.5 in February 2022.

Services sector PMI recorded an index value of 51.8 in February 2022 indicating a marginal growth across the services sector.

Policy Package to Support Greater Macroeconomic Stability : Allowing Flexibility in the Exchange Rate

Considering the severity of the external shocks and recent developments in the domestic front, the Monetary Board of the Central Bank of Sri Lanka announced a comprehensive policy package on 04 March 2022 with the view to counter such economic headwinds. The Central Bank also indicated that it will continue to closely monitor the emerging macroeconomic and financial market developments, both globally and domestically, and will stand ready to take further measures as appropriate, with the aim of achieving stability in the fronts of inflation, the external sector, the financial sector, and real economic activity.

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