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Wednesday June 29th, 2022

Sri Lanka commercial banks’ rupee quote edges down amid dull trade

ECONOMYNEXT – Sri Lanka rupee quote by commercial banks against telegraphic transfers fell to 367 at Thursday trading, falling from 366 rupees on Wednesday.

The central bank’s interbank spot trade was at 359.85 under a daily guidance rate, unchanged from Wednesday.

“There is no active market and everybody is managing with what they have,” a currency dealer said.

The central bank stopped quoting day rates on January 23 when the rupee was floated with an interest rate correction after the soft peg collapsed, amid a war. In 2021 and the central bank also started enforcing a rate incompatible with the policy rate at around 203 to the US dollar.

The three-month T-bill quoted at 20.30/50 percent on Thursday up from 20.20/40 at Wednesday close, despite there was more than 1 percent fall in the yield of this short-tenure government securities.

The one-year bill quoted at 21.80/22.00 percent, up from 21.75/95 percent on Wednesday.

Dealers said all other bonds were inactive. (Colombo/June 16/2022)

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