Thursday February 21, 2019
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Sri Lanka rupee opens wider; bond yields higher

Feb 07, 2019 09:36 AM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Sri Lanka's rupee was quoted at 177.70/80 to the US dollar in the spot market Thursday, after gaining yesterday, while bonds yields were marginally higher after rising a day earlier amid political uncertainty, dealers said.

On Thursday, the spot US dollar closed at 177.65/80 Wednesday, strengthening from 178.25/25 a day earlier.

Finance Minister Mangala Samaraweera said the rupee was strengthening due to inflows and he expected further appreciation.

Bond yields were quoted marginally higher Wednesday morning after gaining yesterday.

Minister Lakshman Kiriella, who was quoted last night as saying that a motion for a national government will not be presented to parliament, had raised concerns over the parliamentary strength of the ruling party, dealers said. The visiting Maldives President is due to address Parliament today.

A delay in a syndicated loan from the Bank of China and political uncertainty were affecting sentiment, dealers said.

Twelve month bills were quoted at 10.75/80 Thursday. At a bill auction Wednesday, 12-month bills were sold at a weighted average of 10.69 percent.

A bond maturing on 01.08.2021 was quoted at 10.90/95 percent on Thursday, up from yesterday's closing of 10.85/95 percent.

A bond maturing on 15.12.2023, was quoted at 11.00/02 percent around the same levels as yesterday's closing.

A 7-year bond maturing 01.08.2026 was quoted at 11.22/28 percent up from 11.20/24 percent a day earlier.

A bond maturing on 15.01.2027, was quoted at 11.28/32 percent up from yesterdays close of 11.27/30 percent.

A bond maturing on 01.09.2028 was quoted at 11.35/50 percent from yesterday's close of 11.35/45. (Colombo/Feb07/2019 - SB)


 

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