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Sri Lanka rupee closes stronger, gilts ease

ECONOMYNEXT- Sri Lanka’s rupee closed stronger at 181.30/40 to the US dollar in the spot market on Thursday, while bond yields eased, dealers said.

The rupee closed at 181.70/80 to the greenback on Wednesday.

Liquidity in the overnight money market was 38.76 billion rupees, down from 40.46 billion rupees on Wednesday.

Central Bank injected 6.33 billion rupees at 7.45 percent in an overnight reverse repo auction.

Banks deposited 32.50 billion rupees in the Central Bank excess liquidity window.

In the secondary bond market, yields eased in moderate trading with buying mainly seen in short tenures, dealers said.

Dealers also said that with the upcoming bill auctions, some activity was witnessed in both 15.07.2023 and 15.09.2024 bonds.

Sri Lanka’s debt office is offering 30 billion rupees in treasury bonds to be sold on January 13th, split into 15 billion rupees at 9 percent maturing in 01.09.2023 and 15 billion at 11 percent maturing in 15.05.2030.

It is also offering Sri Lanka Development Bonds (Treasury bonds denominated in US dollar) up to 100 million US dollars of one year and seven months, two years, three years and five years in auction on the same date.

A bond maturing on 15.12.2021 closed at 8.70/85 percent on Thursday, gaining from 8.65/85 percent on Wednesday’s close.

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A bond maturing on 15.07.2023 closed at 9.25/30 percent, stable from the previous close.

A bond maturing on 15.09.2024 closed at 9.62/65 percent declining from 9.65/70 percent on Wednesday.

A bond maturing on 15.10.2027 closed at 9.80/88 percent, down from 9.82/87 percent from yesterday’s close.

A bond maturing on 15.05.2030 closed at 10.00/10.15 percent, easing from 10.05/10.20 percent.

A bond maturing on 15.09.2034 closed at 10.10/10.30 percent on Thursday, climbing from 10.05/10.25 percent.

(Colombo/Jan09/2020)

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