Sri Lanka bond yields higher after rupee float

ECONOMYNEXT – Sri Lanka bond yields rose as the Central Bank stayed away from quoting a reference rate in forex market and overnight money also rose slightly with no overnight cash auction, dealers said.

The rupee was quoted as low as 138.00/139.00 to the US dollar Friday after authorities stayed away from intervening in forex markets up from 134.75 Thursday but recovered to 137.50/138.00 levels in mid-morning trade.

Call money was quoted at around 6.30/40 percent, and gilt-backed repos at 6.40/60 with trades done at 6.75 percent dealers said.

Bond yields moved up as trading opened, and settled at slightly higher levels from yesterday’s close. A bond auction has also been announced.

Some bond yields are given below.

A 2-year bond (15.05.2017) was quoted 8.25/40 up from 8.00/20 yesterday.

3-year bond (01.06.2018) quoted at 8.70/9.00 percent up from 8.60/9.00

4-year bond (01.07.2019) quoted at 9.10/50 percent up from 9.10/30

5-year bond (01.05.2020) quoted at 9.52/58 percent up from 9.50/55

6-year bond (01.08.2021) quoted 9.75/80 percent after rising to 10.00 up from 9.70/75

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8-year bond (01.09.2023) 10.10/20 percent after rising 10.30/35 up from 10.05 yesterday

10-year bond (01.08.2025) 10.40/55 percent unchanged from yesterday

11-year bonds (01.06.2026) 10.55/65 percent, unchanged.

20-year bond no quotes

30-year bond (01.03.2045) 10.50/11.50 percent (wide indicative quote) unchanged. (Colombo/Sept04, 2015)

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