The Central Bank has purchased the most amount of dollars for a single month in March, a sign that the country is currently in a very comfortable position in its foreign currency liquidity, after two years into the worst currency crisis in the country.

According to the data released last week, the Central Bank purchased US $ 715.1 million in March, which is the highest ever in the last decade. While the monetary watchdog sold none, the dollar purchase is a sharp increase from the roughly US $ 240 million purchased from the banking system in February, on a net basis.

In January, the Central Bank purchased US $ 245.3 million and thus, the March net absorptions brought the first three months’ purchases to US $ 1,199.0 million.

The Central Bank later last month said it would intervene in the foreign currency market to prevent excessive volatility, as the rupee has in recent times appreciated quite significantly after it plunged to its lowest levels in 2022.

For instance, the rupee gained in value by 8.5 percent year-to-date, to trade at Rs.298.51 to a dollar on April 10, on the close of trading for the traditional New Year holiday last week. This was on top of the roughly 12 percent gain in the rupee in 2023.

As a result, the rupee has also emerged as the best-performing currency in the emerging markets in the first quarter.

These large purchases have been possible as tourism has once again returned to become a bright spot in the country’s economy, while the remittances have been pretty strong.

In the first quarter, the two generated US $ 1,025.9 million and US $ 1,536.1 million, respectively.

Besides, Sri Lanka now doesn’t pay most of its foreign currency loans and personal vehicle imports have remained suspended for four years now.

These things have provided much breathing room for the officials to rebuild the reserves, which depleted to near zero levels two years ago, to a level just shy of US $ 5.0 billion.

Sri Lanka fell into an economic crisis in 2022, after running out of foreign currency to bring down fuel, gas and most other essential items, as tourism trade was nearly decimated in the preceding years, due to the pandemic while the remittances reached a low while the exports were less than potential.

Former Minister Mahindananda Aluthgamage has been acquitted from the case filed against him over allegations of money laundering related to the purchase of a house in Colombo.

Justice Minister Wijeyadasa Rajapakshe has filed a revision application in the Court of Appeal challenging the legality of the enjoining order issued by Colombo District Court preventing him from functioning as the Acting Chairman of the Sri Lanka Freedom Party (SLFP).

Former President Chandrika Bandaranaike Kumaratunga said today President Ranil Wickremesinghe invited her on several occasions to take up a position and support the government. Ms Kumaratunga told reporters that she refused the invitation, claiming that she could not take up any position until thieves were there in politics.

Conducting coaching or tuition classes aimed at the 2023 (2024) G.C.E. Ordinary Level (O/L) Examination aspirants will be prohibited from tonight till the exams are concluded, the Department of Examinations said.

Samagi Jana Balawegaya (SJB) General Secretary Ranjith Madduma Bandara today hit out at the party's Organizer Gamini Vijith Vijithamuni Soysa who has been critical of the party leadership lately. Former MP Soysa was reported to have complained that he has been sidelined by the SJB leadership.

State Minister of Finance Shehan Semasinghe expressed confidence in exceeding the $ 5 billion mark by year-end, driven by the strong growth in the tourism sector.

A man in Mullaitivu District claimed to be the tallest person in Sri Lanka. According to BBC Sinhala Service, Gunasingham Kasenthiran, a former cadre of the proscribed Liberation Tigers of Tamil Eelam (LTTE) who lives in Kaiveli, Puthukudiruppu is seven feet two inches tall.

In an effort to nip any discord with India in the bud, Sri Lanka Freedom Party (SLFP) faction led by Nimal Siripala de Silva as acting chairman called on Indian High Commissioner Santosh Jha and disassociated itself from remarks by its former Chairman Maithripala Sirisena implicating alleged Indian involvement in orchestrating the Easter Sunday attacks, an informed source said.

The Sri Lankan Rupee has depreciated slightly against the US Dollar at commercial banks in Sri Lanka today (Apr 29) compared to last week. According to Seylan Bank, the buying and selling rates of the US Dollar are unchanged at Rs. 290.50 and Rs. 301, respectively.

An attempt to send a 17-year-old boy abroad on forged travel documents was foiled and two women suspected of their involvement in the racket were arrested by the Border Surveillance Unit of the Department of Immigration and Emigration at the Bandaranaike International Airport.

The Bar Association of Sri Lanka (BASL) has expressed serious concern over recent remarks made by Minister Tiran Alles, and urging President Ranil Wickremesinghe to remove him from the portfolio of Public Security.

Political tremors are expected on May Day (Wednesday) as members of a few political parties are expected to appear at the UNP May Day rally, UNP Deputy Leader Ruwan Wijewardene said over the weekend.

The Anuradhapura High Court on Friday passed a death sentence on five police officers who were found guilty of killing eight Tamil civilians at the Bharathipuram village in Kantale 26 years ago. The sentence was passed by High Court Judge Manoj Thalgodapitiya.

Former Army commander Sarath Fonseka told Parliament today (April 26) that the person who had groomed the main Easter Sunday suicide bomber – Zahran Hashim, is the current head of the State Intelligence Service (SIS) Maj Gen (Rtd.) Suresh Salley.

Sri Lankan-born Rt Rev Anashuya Fletcher was recently ordained and installed as Assistant Bishop of Wellington, New Zealand. The event was held at the Wellington Cathedral of St. Paul and was attended by over 600 well-wishers.

Australia has decided to donate an aircraft to support maritime security in the Indian Ocean Region (IOR) including Sri Lanka.

More than 7,000 soldiers who deserted the Sri Lanka Army have received legal discharge during an amnesty period declared by Sri Lanka’s Ministry of Defence.

The Sri Lankan Government has rejected a request for an American research ship to enter Sri Lankan waters. This decision is in line with the Government’s policy of not allowing any research vessel to enter Sri Lankan waters.

Alexis Taylor, Under Secretary for Trade and Foreign Agricultural Affairs at the U.S. Department of Agriculture (USDA), together with U.S. Ambassador Julie Chung, met with Sri Lankan President Ranil Wickremesinghe and other senior government officials to discuss USDA support for Sri Lanka’s agricultural sector, a statement from the US Embassy said.

Refuting reports that Opposition Leader Sajith Premadasa avoided meeting visiting Iranian President Dr. Ebrahim Raisi, SJB MP Nalin Bandara said yesterday that Opposition Leader Sajith Premadasa did not get an appointment from the Iranian Embassy to meet the Iranian President.