Sri Lanka rupee closes at 196.50/197.00 to one week dollar, bond yields up

ECONOMYNEXT – Sri Lanka’s rupee closed at 196.50/197.00 to the US dollar in the one-week forward market on Thursday, while some bond yields edged up, dealers said.

The rupee last closed in spot next market at 195.00/198.00 to the dollar on Wednesday.

There is no trading in the spot market with heavy moral suasion not to trade above 195 to the US dollar, market participants said.

Sri Lanka has printed large volume of money putting pressure on the rupee and triggering balance of payments deficits, and downgrades.

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

A bond maturing on 15.12.2022 closed at 5.80/85 per cent on Thursday, steady from 5.80/90 per cent at Wednesday’s close.

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

A bond maturing on 01.12.2024 closed at 6.75/80 per cent, up from 6.75/82 per cent.

A bond maturing on 01.05.2025 closed at 6.95/10 per cent, unchanged from 6.95/7.10 per cent.

A bond maturing on 15.01.2026 closed at 7.10/25 steady from 7.15/25 per cent.

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A bond maturing on 15.08.2027 closed at 7.30/55 per cent, down from 7.40/60 per cent.

A bond maturing on 15.05.2030 closed at 8.10/30 per cent, up from 8.05/25 per cent at Wednesday’s end. (Colombo/Feb18/2021)

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