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Saturday October 23rd, 2021
Bonds & Forex

Sri Lanka fails to sell 92-pct of bond auction

ECONOMYNEXT – Sri Lanka has failed to sell 92 percent of a 50 billion rupee bond auction, with slightly more bonds being sold at in 2025 bonds, than 2023 bonds, official data shows.

800 million rupees of 01 September 2023 bonds were sold at 6.75 percent, after offering 30 billion rupees.

3.2 billion rupees of 15 October 2025 bonds were sold at 8.55 percent after offering 20 billion rupees.

Ahead of the bond auction ceiling rates were raised.

Two weeks ago policy rates were also raised, with bond auctions already falling and this week a statutory reserve ratio hike is going into effect forcing banks to conserve cash.

Bond auctions were also failing before the rate hike. The 12-month bill auctions were also failing. (Colombo/Aug30/2021)

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