Sri Lanka rupee, stocks open weaker
Sep 12, 2018 10:53 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - The Sri Lanka rupee opened weaker against the US dollar on Wednesday as stocks fell 0.10 percent on selling in banking stocks, Ceylon Tobacco and Distilleries, brokers and dealers said.
The rupee weakened to 162.35/45 rupees against the US dollar in early spot market trading, down from the previous day's closing of 162.30/40 rupees.
Dealers said currency pressure from import demand and foreign selling in government bonds was muted by export conversions and tight excess market liquidity on Tuesday.
The rupee has strengthened since closing at 162.35/50 rupees against the greenback on Monday.
Gilt yields edged higher in opening trades in the secondary market for government bonds.
A five-year bond maturing in 2023 edged higher to 10.03/08 percent in two-way quotes, up from 10.02/07 percent the previous close.
A ten-year bond maturing in 2028 opened at 10.40/50 percent, up from the previous closing of 10.30/45 percent.
Equities opened lower with Colombo's All Share index falling 0.10 percent in early trading, down 5.91 points to 6,089.32, but the S&P SL20 index of more liquid stocks was up 0.09 percent to 2.86 points to 3,205.60.
Ceylon Tobacco was down 23.90 rupees to 1,326 rupees and Distilleries was trading 10 cents lower at 18.40 rupees.
NDB Bank was down 1.98 rupees to 110 rupees and Sampath Bank was 60 cents lower at 274.30 rupees. (COLOMBO, 12 September 2018)