Forex
Sri Lankan Rupee Hits Four-Year Low Amid Strong Demand
The Sri Lankan rupee closed at 328.25/30 to the US dollar in the spot market on Monday, while bond yields rose higher, dealers said.
A total of eight bonds maturing between 2027 and 2036 were listed, with yields ranging from 9.55% to 11.95%. The highest yield was recorded for a bond maturing in 2033 at 11.60/70 percent.
The Central Bank bought a net US$579 million in August, the highest since March 2024, as it continued to buy dollars aggressively from the market to boost foreign currency reserves and meet IMF targets.