Sri Lanka rupee close weaker, gilt yields wider

ECONOMYNEXT – Sri Lanka rupee closed weaker at 184.20/30 to the US dollar on Wednesday while bond yields end wider after the bills auction, dealers said.

The rupee closed at 184.45/60 against the greenback on Tuesday.

In the secondary securities market, bond yields fell marginally while the overall market active, dealers said.

Sri Lanka’s debt office is offered 40 billion rupees treasury bill to be sold in an auction held today. The bills are split into 4 billion rupees maturing in 3-months, 18 billion rupees maturing in 6-months and 18 billion rupees maturing in 12-months.

At the auction, 3-months bills was not accepted while the 6-months bills yield fell by 84 basis points to 3.87 per cent from 4.71 per cent. 12-months bills declined by 86bps to 4.13 per cent.

The fall in the auction yields astonished the investors ahead of the monetary policy due tomorrow, FirstCapital Research noted in its daily report. “Following a similar trend as last week, high demand was centred on the benchmark 12-months T-bill with an acceptance of 25.3 billion rupees in comparison to the offered amount of 18.0 billion rupees meanwhile, at bill auction, the total offered amount of 40.0 billion rupees was fully accepted for the second consecutive week.”

A 2-year bond maturing on 15.12.2022 closed at 5.40/50 per cent on Wednesday, down from 5.55/60 per cent at Tuesday’s closing.

A bond maturing on 15.01.2023 closed at 5.40/55 per cent, down from 5.55/68 per cent at the last closing.

A bond maturing on 15.09.2024 closed at 5.97/03 per cent on Wednesday, down from 6.02/07 per cent at the previous closing.

A bond maturing on 01.05.2025 closed at 6.20/35 per cent, down from 6.30/35 per cent at its last closing.

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A bond maturing on 01.02.2026 closed at 6.45/55 per cent, down from 6.53/56 per cent.

A bond maturing on 15.08.2027 closed at 6.70/85 per cent, down from 6.82/88 per cent on Tuesday.

A bond maturing on 01.07.2028 closed at 6.85/7.05 per cent, down from 7.05/10 per cent.

A 10-year bond maturing on 15.05.2030 closed at 7.10/30 per cent, down from 7.35/40 per cent at the previous day’s end. (Colombo/Oct21/2020)

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