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Sri Lanka bonds marginally up ahead of parliament opening, rupee stronger

ECONOMYNEXT – Sri Lanka’s bond yields opening marginally higher and the rupee was stronger at 183.10/20 ahead of the opening of a new parliament on August 20 and a vote on account, dealers said.

Sri Lanka’s parliament will open on August 20, with President Gotabaya Rajapaksa set to make a policy statement in the afternoon.

The new administration is also expected to present a vote-on-account.

Sri Lanka rupee was quoted stronger at 183.10/20 against the US dollar on Monday in the spot market while bond yields were up marginally, dealers said.

The rupee closed at 183.60/85 to the greenback on Friday.

In the secondary government securities markets, bond yields were up marginally in moderate trade, dealers said.

Dealers said that highest liquidity was seen in 2024 maturities.

A 2-year bond maturing on 15.12.2022 was quoted at 5.60/70 percent on Monday, down from 5.62/65 percent at Friday’s end.

A bond maturing on 15.01.2023 was quoted at 5.65/75 percent, up from 5.63/70 percent at Friday’s close.

A bond maturing on 15.09.2024 was quoted at 6.15/20 percent on Monday, up from Friday’s closing at 6.13/18 percent.

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A bond maturing on 01.05.2025 was quoted at 6.35/45 percent on Monday, steady from 6.35/42 percent at the previous day’s closing.

A bond maturing on 01.02.2026 was quoted at 6.50/60 percent, up from 6.47/52 percent at the previous close.

A bond maturing on 15.08.2027 was quoted at 6.98/7.05 percent up from 6.96/7.00 percent at Friday’s closing.

A 10-year bond maturing on 15.05.2030 was quoted at 7.25/35 percent, unchanged from 7.25/35 percent at the previous day’s closing. (Colombo/Aug17/2020)