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Sri Lanka bond yields down on China swap news, rupee weaker

ECONOMYNEXT – Sri Lanka’s rupee closed weaker at 197.75/198.00 levels to the US dollar in the one-week forward market on Wednesday while bond yields were down, on the confirmation of a central bank swap with China, dealers said.

The rupee last closed in the one- week forward market at 197/197.50 to the US dollar on Tuesday.

In the secondary market bond yields were down on active trade after theState Minister for Capital Markets and Money, NivardCabraal announced tha tPeople’s Bank of China confirmed a 1.5 billion dollar equivalent swap, dealers said.

He said Sri Lanka could draw down the swap at any time but it will be kept as a buffer.

“We will draw down as and when we need,” he said. “But our main focus is to increase non-debt inflows.”

A bond maturing on 15.06.2024 closed at 6.45/55 per cent, down from 6.60/63 per cent.

A bond maturing on 15.12.2022 closed at 5.75/80 per cent on Wednesday, down from 5.83/88 per cent Tuesday.

A bond maturing on 15.11.2023 closed at 6.20/30 per cent, steady from 6.23/30 per cent Tuesday.

A bond maturing on 01.12.2024 closed at 6.53/57 per cent, down from 6.60/68 per cent.

A bond maturing on 01.05.2025 closed at 6.75/85 per cent on Wednesday, down from 6.70/85 per cent.

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A bond maturing on 15.02.2026 closed at 6.97/02 per cent, down from 7.00/10 per cent.

A bond maturing on 15.08.2027 closed at 7.35/50 per cent, down from 7.40/50 per cent.

A bond maturing on 15.05.2030 closed at 8.10/50 per cent, up from 8.00/30 per cent. (Colombo/March10/2021)

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