Sri Lanka Rupee Strengthens as Bond Yields Remain Steady

The Sri Lankan rupee strengthened on Wednesday, opening at 331.62/68 to the US dollar in the spot market, a slight improvement from the previous day's rate of 331.90/332.00.

Bond yields remained steady across various maturity dates, with some fluctuations. The 10-year bond maturing in 2030 was quoted at 10.75/85%, while the 15-year bond maturing in 2034 saw a slight increase to 11.80/90%.

In other news, Bank of Ceylon announced plans to raise 10 billion rupees through the issuance of Basel III compliant, rated, unlisted, unsecured, subordinated, perpetual Additional Tier 1 Capital (ATI) debentures.