Foreign investor holdings in Sri Lanka government bonds rose to 225 billion rupees in the week ending February 29, up from 212 billion rupees a week earlier, official data showed.
Treasury bill holdings rose to 91 billion rupees from 84 billion rupees a year earlier, Central Bank data showed.The bill holding has tended to fluctuate from week to week.
Sri Lanka’s government bonds yield over 10 percent a year and the rupee fell from around 110 to 120 following several months of sterilized interventions.
The central bank has said interventions may continue for at least two to three months for about 850 million US dollars.
Sterilization of those interventions would continue to put pressure on the rupee, analysts have warned.
Sri Lanka’s forex pressure came from developments in domestic credit market to which ‘hot money’ outflows have not contributed so far.
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