ECONOMYNEXT –Sri Lanka’s bond yields closed down on Tuesday, following President Ranil Wickremesinghe’s comments on developments of the extended Loan facility from the International Monetary Fund, dealers said.
Sri Lanka’s rupee closed at 320/330 to the US dollar in the spot market.
Sri Lanka has signed a Letter of Intent covering the deal with the International Monetary Fund to be submitted to its Executive Board for approval after getting a second letter from China yesterday, President Ranil Wickremesinghe told parliament.
The Board Approval is expected in the third or fourth week of March.
“The market was highly active after the comments regarding IMF” dealers said.
A bond maturing on 01.07.2025 closed at 31.40/70 percent on Tuesday, down from 32.00/75 percent on Friday.
A bond maturing on 15.05.2026 closed at 28.10/30 percent, down from Friday’s close at 29.00/75 percent.
A bond maturing on 15.09.2027 closed at 28.00/30, down from 28.25/29.25 percent.
The Central Bank’s stopped the daily guidance peg for interbank US dollar transactions from March 07 onwards after the spot market operations were reinitiated last week.
The CBSL last quoted guidance peg stood at 346.17 rupees against the US dollar. (Colombo/Mar