Sri Lankan Rupee strengthens as government reviews airport proposals

The Sri Lankan Rupee has shown strength against the US Dollar. In commercial banks, the US Dollar selling rate dropped to approximately Rs. 338, with various banks reporting decreases in both buying and selling rates. In the spot market, the rupee was quoted at 333.75/90 to the US dollar, up from 334.50/60 the previous day.

In the financial markets, bond yields remained broadly steady, with some maturities showing slight decreases. The Colombo Stock Exchange also trended upward, with the ASPI rising 0.33 percent and the S&P SL20 increasing by 0.52 percent.

Separately, the Sri Lankan government is evaluating 19 proposals to operationalize the Mattala Rajapaksa International Airport (MRIA). Deputy Minister of Ports and Civil Aviation Janitha Ruwan Kodithuwakku stated that a Request for Proposals (RFP) is expected to be issued within the next two months once qualified bidders are selected. This follows a previous unsuccessful attempt to manage the facility through an Indian and Russian joint venture.