Sri Lanka rupee closes firmer, bond yields fall

ECONOMYNEXT – Sri Lanka’s rupee closed firmer at 175.90/00  to the US dollar on Friday, while bond yields fell, dealers said.

The rupee closed stronger at 176.00/10 to the greenback on Thursday.
The overnight liquidity in the money market grew to 38.20 billion rupees on Friday, from 20.32 billion rupees a day earlier.
The central bank mopped up 17.68 billion rupees through a repo auction at 8.52 percent, and 22 billion rupees in term-repo auctions at around 8.57 and 8.58 percent.
The secondary market was active with yields falling by as much as 10-20 basis points, with heavy foreign buying, dealers said.
Higher liquidity and lack of credit expansion and rising bad loans in the banking system were also leading to banks seeking the safety of government securities, dealers said.
A bond maturing on 15.12.2021 closed at 9.65/75 percent on Friday, falling from 9.75/85 percent at Thursday’s close.
A bond maturing on 15.03.2023 closed at 10.10/20 percent, down from 10.30/35 percent.
A bond maturing on 15.03.2024 closed at 10.25/30 percent, falling from 10.38/42 percent.  
A bond maturing on 01.08.2026 closed at 10.50/57 percent, falling from 10.62/67 percent.
A bond maturing on 15.01.2027 closed at 10.58/63 percent on Friday, down from Thursday’s 10.68/72 percent. 
A 10-year bond maturing on 01.05.2029 closed at 10.70/75 percent, falling from 10.80/85 percent. (Colombo/May17/2019)

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