CEYLON’S EXTERNAL ASSETS DECLINE

Press, Volume LXXXIX, Issue 27213, 3 December 1953, Page 14

CEYLON’S EXTERNAL ASSETS DECLINE

(N.Z. Press Association—Copyright) COLOMBO, December 1. Ceylon’s external financial assets have registered a sharp drop. According to provisional figures published in the Central Bank of Ceylon’s bulletin issued today, external assets at the end of October were 620,700,000 rupees (about £46,552,500 sterling). This is the lowest since 1943 and shows a decline of 38,000,000 rupes (about £2,859,000) since September this year. External assets have fallen steadily since January, 1952, when they were 1,208,600,000 rupees (about £90,645,000). A decline of 38,000.000 rupees is the highest within the last six months. The financial editor of the “Manchester Guardian” stated today that it seemed that Ceylon would be able to raise loans up to £25,000,000 sterling in the next three years on the London market as a result of the recent visit of the Finance Minister (Mr Goonetilleke). In addition the Malayan Government hoped to raise a loan of about £6,500,000 sterling in London.

CEYLON TEA MARKET (N.Z. Press Association—Copyright) COLOMBO, Dec. 1. Offerings totalled 4,113,7961 b at the tea sales held this week. The market closed under a strong general demand. High-rown broken orange pekoes realised 253 cents per lb; medium liquoring broken orange pekoes, 198; medium liquoring orange pekoes, 215; low medium broken orange pekoes, 189; low medium dust, 193.