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Sri Lanka bond yields slide 50-bp after SRR cut, rupee close weaker

ECONOMYNEXT – Sri Lanka rupee closed weaker at 186.45/65 to the US dollar on Wednesday while stocks gained and bond yields fell more than 50 basis points in one of the highest one-day falls, dealers said.

Rupee closed on Tuesday at 186.00/186.30 against the greenback.

In the secondary government securities market, yields eased drastically in an active market trade, dealers said.

Dealers said the yields plunged more than 50 basis points after Central Bank halved its statutory reserve ratio to 2 percent from 4.

This move came in overnight after President Gotabaya slammed Central Bank yesterday for not issuing new money to bankers to give loans

A bond maturing on 01.08.2021 closed at 6.60/80 percent on Wednesday, down from 6.90/05 percent at the previous day’s close.

A new 2-year bond maturing on 15.12.2022 closed at 6.87/92 percent, sliding from 7.50/58 percent at Tuesday’s end.

A bond maturing on 15.01.2023 closed at 6.93/99, falling from 7.60/65 percent.

A bond maturing on 15.09.2024 closed at 7.47/52percent, easing from 8.15/20 percent at the previous day’s close.

A bond maturing on 01.05.2025 closed at 7.70/77 percent on Wednesday, down from 8.35/40 percent.





A bond maturing on 01.02.2026 closed at 7.80/88 percent, easing from 8.45/50 percent.

A bond maturing on 15.10.2027 closed at 8.10/20 percent, down from 8.70/75 percent at the previous day’s close.

In the equities market, Colombo’s main, All Share Price Index (ASPI) advanced 0.87 percent or 42.68 points to gain 4,958.24.

S&P SL20 index of most liquid stocks gained 2.02 percent or 41.99 points to 2,121.11.

Market turnover was 2.1 billion rupees with 94 stocks gaining and 55 stocks sliding.

Cargills Ceylon contributed most to ASPI’s gain, advancing 11.90 rupees to trade at 190.00 while Dialog Axiata stocks gained 30 cents to trade at 11.00 rupees a share.

John Keells Holdings stocks closed 1.40 rupees to trade at 119.00 rupees a share.


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