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Sri Lanka rupee closes weaker at 196.50/197.50 to dollar one-week forwards

ECONOMYNEXT – Sri Lanka’s rupee closed weaker at 196.50/197.50 levels to the US dollar in the one-week forwards market on Tuesday while bond yields slightly down, dealers said.

The rupee last closed in the spot market at 195.50/196.00 to the dollar on Monday.

the rupee has fallen from 186.40 in December 2020 to 194.40 to the US dollar in January 2021.

In the secondary market bond yields were slightly fell while the overall market remained dull, dealers said.

Dealers said the market moved slightly on positive sentiments after the India-Sri Lanka partnership to build the west-container terminal was announced.

Minister Keheliya Rambukwella told reporters today that Sri Lanka will join hands with Adani Ports, a giant Indian conglomerate in a Build, Operate and Transfer deal to develop the West Container Terminal (WCT) of the Colombo Port.

Special Economic Zone Limited with John Keels Holdings Limited as a local partner with the Ports Authority (SLPA) also holding a stake. The proposed agreement is to stretch to 35 years.

CBSL announced to issue 45 billion rupees worth of T-bills at the bill auction to be held tomorrow.

A bond maturing on 15.12.2022 closed at 5.70/77 per cent on Tuesday, down from 5.80/87 per cent at Monday’s end.

A bond maturing on 15.11.2023 closed at 6.22/29 per cent on Tuesday, down from 6.30/38 per cent at Monday’s end.

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A bond maturing on 01.12.2024 closed at 6.72/75 per cent on Tuesday, down from 6.75/85 per cent Monday’s end.

A bond maturing on 01.05.2025 closed at 6.90/05 on Tuesday, steady from 6.90/7.10 per cent at the previous day’s end.

A bond maturing on 15.02.2026 closed at 7.05/15 per cent, down from 7.10/25 per cent at Monday’s end.

A bond maturing on 15.08.2027 closed at 7.15/55 per cent on Tuesday, down from 7.35/50 per cent.

A bond maturing on 15.05.2030 closed flat at 8.10/50 per cent. (Colombo/Mar02/2021)

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