BRIEF-Bank of Hawaii says Kent Lucien to be chief strategy officer
* Says Kent T. Lucien, vice chair, currently Bank of Hawaii's chief financial officer, will become chief strategy officer
COLOMBO Oct 4 The Sri Lankan rupee closed weaker on Tuesday on importer dollar demand in the absence of central bank intervention, and the market expects the local currency to be under downward pressure due to seasonal imports until mid-December, dealers said.
The spot rupee closed at 146.70/75 per dollar, edging down from Monday's close of 146.55/65.
The rupee has been under downward pressure due to seasonal importer dollar demand, posting a 0.65 percent decline last week.
"We do not see any direction from the central bank regarding the spot rupee level," a currency dealer said.
Finance Ministry Ravi Karunanayake said on Monday the government wanted a strong currency through higher foreign inflows and without interventions.
"We are trying to get into an equilibrium between the interest rates and exchange rate," he told a Foreign Correspondents Association (FCA) forum.
He also said the government was planning to impose heavy penalties on tax defaulters and expand tax offices across the country as it aims to increase the tax base.
The central bank has been under pressure from the International Monetary Fund (IMF) to continue rebuilding international reserves and maintain exchange rate flexibility to develop the foreign exchange market further. (Reporting by Shihar Aneez; Editing by Sunil Nair)
WASHINGTON, Jan 20 The Trump administration, hours after taking office on Friday, suspended a plan to cut mortgage insurance premiums on federally insured home loans that the U.S. government had estimated would save eligible homeowners an average of $500 a year.
Jan 20 The U.S. government is investigating dietary supplement maker Herbalife over whether it violated foreign bribery laws while conducting business in China, the company revealed in a regulatory filing on Friday.