Sri Lanka rupee closes at 195.00/198.00to dollar spot-next

ECONOMYNEXT –Sri Lanka rupee closed around 195.00/198.00 levels to the US dollar in the spot-next market on Wednesday, while bond yields were quoted wider, dealers said.

The rupee last closed in one-week forward market at 197.50/198.50 levels on Tuesday.

In the secondary market bond yields edged up in moderate market activity, dealers said.

“The secondary market yield curve shifted slightly upwards on the long end of the curve while overall market witnessed moderate volumes,” FirstCapita l Market Research said.

“Mixed activities were seen on the shorter end of the yield curve with 15.12.22 trading at 5.80%-5.82% levels, 15.01.23 at 5.90%, 15.07.23 at 6.05%. Further on 2024 maturities, 01.08.24 traded at 6.75%, 01.09.24 at 6.80%, 01.12.24 at 6.80%, in addition, 01.02.26 traded at 7.16%.”

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

Sri Lanka sold only 16.7 billion rupees, about 20 per cent of the offered amount.

“At the primary T-bill auction held today, 3M and 6M bills were accepted at 4.82% and 4.93%, up by 10bps and 8bps respectively. Besides the benchmark 1-Yr T-bill was accepted at 5.09% up by 5bps,” FirstCapital said.

A bond maturing on 15.12.2022 closed at 5.80/90 per cent on Wednesday, up from 5.60/75 per cent at Tuesday’s close.

A bond maturing on 01.10.2023 closed 6.05/15 per cent on Wednesday, gaining from 6.00/10 per cent at the previous day’s close.

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A bond maturing on 01.12.2024 closed at 6.75/82 per cent, up from 6.67/77 per cent at the previous day’s end.

A bond maturing on 01.05.2025 closed at 6.95/7.10 per cent, gaining from 6.90/7.10 per cent at Tuesday’s end.

A bond maturing on 15.01.2026 closed at 7.15/25 per cent on Wednesday.

A bond maturing on 15.08.2027 closed at 7.40/60 per cent on Wednesday, up from 7.30/50 per cent at Tuesday’s end.

A bond maturing on 15.05.2030 closed at 8.05/25 per cent on Wednesday, up from 8.00/20 per cent at Tuesday’s end. (Colombo/Feb17/2021)

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