Sri Lanka govt security yields fall, rupee peg steady as debt restructuring talk outcome awaited

ECONOMYNEXT – Yields in Sri Lanka’s Treasury bond and treasury bills fell in dull trade on Friday (23) while a guidance peg for interbank transactions announced by Sri Lanka’s central bank remained unchanged for third day as the market awaited the outcome of the debt restructuring talks, dealers said.

Sri Lanka met its external creditors later on Friday to update them on on a deal agreed with the International Monetary Fund and recent economic developments along with the advisors Clifford Chance.

The market has been waiting to see the outcome of the meeting as it could signal if there would be a local debt restructuring, dealers said.

A bond maturing on 01.06.2032 closed at 29.25/40 percent on Friday, down from the previous close of 29.40/50 percent.

The three months treasury bill yields closed at 29.75/30.25 percent, down from Thursday’s close of 30.75/31.00 percent.

Sri Lanka’s central bank’s guidance peg for interbank transactions on Friday was 362.90 rupees against the US dollar, unchanged from Thursday.

Data said that commercial banks offered dollars for telegraphic transfers between 369.90 and 370.00 for small transactions.

Banks offered to buy inward remittances at 359.90 -360.00 rupees. (Colombo/Sep 23/2022)

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