Sri Lanka rupee closes stronger, bond yields flat

ECONOMYNEXT-Sri Lanka’s rupee closed stronger at 176.80/10 to the US dollar in the spot market on Friday, while bond yields were flat and stocks fell 0.13 percent, dealers said.

The rupee closed at 178.35/55 to the US dollar in the sport market on Thursday.
 
Dealers said the rupee was gaining on the dollar with foreign buying interest in treasury bonds for the second consecutive week.
 
Exporters who were holding dollar earnings were also starting to convert to rupees with a better price, dealers said.
 
The rupee this week gained from 181.60/65 to the US dollar seen at the close of the previous week.
 
Dealers said bond yields continued its fall after the auction, continuing a trend seen for most of the week due to buying interest.
 
A bond maturing on 01.08.2021, which was auctioned this week was quoted at 10.81/88 percent on Friday, up from the previous close of 10.80/85 percent.
 
A bond maturing on 15.12.2023, was quoted at 10.95/03 on Friday from Thursday’s close of 10.95/03 percent.
 
A bond maturing on 01.06.2026 was quoted at 11.15/25 percent, wider from the previous close of 11.18/23 percent.
 
A bond maturing on 01.08.2026 was quoted at 11.15/20 percent on Friday, flat from Thursday.
 
A newly auctioned bond maturing on 15.01.2027 was quoted at 11.20/24 percent, flat from previous close.
 
A bond maturing on 01.09.2028 was quoted at 11.20/30 percent after closing at 11.25/35 percent yesterday.
 
The All Share Price Index of the Colombo Stock Exchange was down 0.13 percent or 7.85 percent closing at 5,982.
 
The more liquid stocks in the S&P SL 20 Index were down 0.04 percent or 1.25 points, closing at 3,072.46.
 
Market turnover was 810.6 million rupees.
 
There was high foreign participation with net foreign outflows of 165.7 million rupees.
 
Selling in John Keells Holdings weighed the All Share down, with the share down 1.90 rupees to 156 rupees.
 
Distilleries Company of Sri Lanka share fell 30 cents to 16 rupees.
 
There was buying in Dialog Axiata, up 20 cents to 10.10 rupees per share, and DFCC Bank up 3.10 rupees to 84.90 rupees per share.
 
Overall, prices of 46 shares were up and 63 were down. (Colombo/Feb02/2019 – SB)