Sri Lanka rupee closes weaker, bond yields stable

ECONOMYNEXT- Sri Lanka’s rupee closed weaker at 176.50/65 to the US dollar in the spot market on Monday, while bond yields were stable in a mixed market, dealers said.

The rupee had closed at 176.30/40 to the US dollar in the spot market on Friday.
 
The central bank was mopping up liquidity in money markets, with overnight liquidity falling to 26.5 billion rupees on Monday from 43.54 billion rupees on Friday.
 
Dealers said bond markets saw both buying and selling interest in active trading.
 
Some investors were selling due to continued unrest in the country and falling liquidity, looking to make a quick profit.
 
Yields on longer tenors fell as state-funds such as the Employees’ Provident Fund bought, dealers said.
 
A bond maturing on 15.12.2021 closed at 9.80/90 percent on Monday, up from 9.75/85 percent on Friday. 
 
A 3-year bond maturing on 15.03.2022 closed at 9.90/00 percent, unchanged from the previous close.
 
A 15.03.2024 bond was the most liquid, and closed at 10.47/50 percent, up from 10.42/43 percent.
 
A 7-year bond maturing on 01.08.2026 closed at 10.55/65 percent, stable from Friday’s 10.55/72 percent. 
 
A bond maturing on 15.01.2027 closed at 10.70/75 percent on Monday, unchanged from the previous close.
 
A bond maturing on 01.05.2029 closed at 10.80/90 percent, falling from 10.85/90 percent. (COLOMBO/10 May/2019)

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