Sri Lanka rupee weaker at open, bond yields fall
Feb 18, 2019 10:15 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT- Sri Lanka's rupee opened slightly weaker at 178.80/95 to the US dollar in the spot market on Monday, while bond yields fell and the stock market gained, dealers and brokers said.
The rupee closed at 178.70/80 to the US dollar in the spot market on Friday.
Dealers said bond yields were falling with some activity in the market.
Market participants were awaiting an announcement from the Central Bank on whom the lead managers for an expected sovereign bond were, dealers said.
The cabinet last week approved the lead manager for the issue, but will ratify the decision this week.
Twelve-month bills were quoted at 10.65/70 percent on Monday, lower from Friday's close of 10.68/73 percent.
A bond maturing on 01.08.2021 was quoted at 10.90/98 percent, falling from the previous close of 11.00/06 percent.
A bond maturing on 15.12.2023, was quoted at 11.00/15 percent, lower from Friday's 11.10/20 percent.
A 7-year bond maturing 01.08.2026 was quoted at 11.32/38 percent, slightly down from 11.33/40 percent at Friday close.
A bond maturing on 15.01.2027, was quoted at 11.36/40 percent, slightly down from the previous close of 11.40/45 percent.
A bond maturing on 01.09.2028 was quoted at 11.45/50 percent, compared to Friday's 11.40/55percent.
At the Colombo Stock Exchange, the All Share Price Index was up 0.10 percent, or 5.70 points to 5,915.00 in the first half hour of trading.
The more liquid stocks in the S&P SL20 Index were up 0.12 percent or 3.57 points at 3,031.79.
Market turnover was 294.7 million rupees.
Over two thirds of the turnover was from the trading of Tokyo Cement Company shares.
The firm's voting shares were up 40 cents, trading at 23.20 rupees, while non-voting stock gained 40 cents to 20.50 rupees.
Hemas Holdings share fell 10 cents to 85 rupees. (Colombo/Feb18/2019-SB)