CSE declares market holiday on Tuesday

COLOMBO: The Colombo Stock Exchange has declared Tuesday as a market holiday due to settlement difficulties, nearly a month after it remained closed for a week amid the worst economic crisis in Sri Lanka.

The decision also came a day after Sri Lanka witnessed unprecedented violence and political crisis following the resignation of Prime Minister Mahinda Rajapaksa. The Colombo Stock Exchange (CSE) has been informed that the RTGS system of the Central Bank of Sri Lanka will not be operated today (10th May 2022),” a CSE circular said. “Therefore, the Central Depository System (CDS) of the CSE is unable to complete the fund settlement and the securities settlement falling on 10th May 2022 as per the DVP settlement mechanism,” it said.

“In the circumstances, the CSE has declared today (10th May 2022) as a market holiday due to the aforesaid operational reasons, the circular said. Sri Lanka is facing its worst economic crisis since gaining independence from the UK in 1948.