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Sri Lanka rupee closes steady at 199.50/200.50 to the one week US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed steady at 199.50/200.50 to the one week US dollar on Thursday while yields remained unchanged in dull market, dealers said.

The rupee last closed in the one-week forward market at 199.50/200.50 to the US dollar on Wednesday.

Sri Lanka’s trade minister Bandula Gunewardene told parliament this week that the rupee exchange rate is controlled at 200 levels with great difficulty and if allowed it could hit 300-350 levels given past trends.

However, he did not give a timeline of 350 rupees.

In the secondary market bond yields are flat in dull market trade, dealers said.

Dealers said the market is waiting for the 60 billion bond auction to be held on March 29.

The debt office is selling 60 billion rupees split into 25 billion rupees bonds maturing on 15.11.2023, 20 billion rupees maturing on 15.01.2026 and 15 billion bonds maturing on 01.05.2028.

A bond maturing on 15.12.2022 closed flat at 5.80/85 per cent on Thursday, from Wednesday.

A bond maturing on 15.11.2023 closed flat at 6.25/35 per cent on Thursday.

A bond maturing on 01.12.2024 closed at 6.60/65 per cent on Thursday, down from 6.63/70 per cent.

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A bond maturing on 01.05.2025 closed at 6.75/90 per cent, steady from 6.75/95 per cent.

A bond maturing on 15.02.2026 closed at 7.05/15 per cent, up from 7.02/10 per cent.

A bond maturing on 15.08.2027 closed at 7.45/55 per cent, up from 7.40/55 per cent on the previous day.

A bond maturing on 01.05.2029 closed at 7.98/10 per cent on Thursday, down from 8.00/20 per cent.

A bond maturing on 15.05.2030 was quoted at 8.00/25 per cent on Thursday, steady from 8.00/30 per cent. (Colombo/March25/2021)

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