Sri Lanka rupee closes at 194.50/195.50 to dollar in one week forwards

ECONOMYNEXT – Sri Lanka rupee closed weaker around 194.50/195.50 levels to the US dollar in the one-week market on Friday, while bond yields edged up on selling pressure, dealers said.

The rupee last closed in one-week forward market at 194.00/194.50 levels on Thursday.

Sri Lanka forex reserves at US$4.8bn in January 2021.

Sri Lanka’s gross official reserves were at 4.8 billion US dollars by end of January 2021 Central Bank Governor W D Lakshman said and efforts were underway to boost them.

In the secondary market bond yields gained on selling pressure, but there were low levels of activity, dealers said.

Concluding the week, the secondary bond market yield curve remained broadly unchanged while overall market witnessed ultra-thin volumes due to dried up activities, FirstCapital Market Research said.

Sri Lanka’s debt office is offering 38 billion rupees bills in a weekly bills auction to be held on February 17. The 38 billion rupees bills will be split in to 5 billion rupees maturing in 3-months, 8-billion rupees maturing in 6-months and 25-billion rupees maturing in 12-months.

A bond maturing on 15.12.2022 closed at 5.60/65 per cent on Friday, up from 5.55/63per cent at Thursday close.

A bond maturing on 01.10.2023 closed at 5.95/6.00 per cent on Friday, steady from 5.92/6.02per cent.

A bond maturing on 01.12.2024 closed at 6.60/65 per cent on Friday, down from 6.62/70 per cent from previous close.

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A bond maturing on 01.05.2025 closed at 6.80/7.00 per cent, steady from 6.80/95per cent a day earlier.

A bond maturing on 15.08.2027 closed flat at 7.25/40 per cent.

A bond maturing on 15.05.2030 closed at 7.80/10 per cent on Friday, down from 8.05/30per cent at Friday’s end. (Colombo/Feb12/2021)

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