Sri Lanka Rupee Strengthens as Transwell Submits Unsolicited Proposal for SriLankan Airlines

The Sri Lankan rupee strengthened to 333.75/90 against the US dollar in the spot market on August 13, from 334.50/60 the previous day.

Bond yields were largely unchanged, with a bond maturing on August 1, 2030 quoted at 10.85/95 percent, down from 10.90/11.00 percent.

The government announced that Hong Kong-based private equity firm Transwell Corporation Limited has submitted an unsolicited proposal to turn around SriLankan Airlines.

The state-appointed committee will review this proposal and decide on the airline's future once it submits its restructuring recommendations within six months.