Sri Lanka rupee closes weaker, bond yields stable

ECONOMYNEXT – Sri Lanka’s rupee closed weaker at 181.55/60 to the US dollar on Tuesday while bond yields were stable, dealers said.

The rupee closed at 181.40/55 against the US dollar on Monday.

In the overnight money market, liquidity fell marginally to 16.33 billion rupees with lower deposits by banks at the central bank window.

The central bank offered 5 billion rupees in overnight repo auctions for which there were no bids.

Treasury bills worth 16 billion are to be issued through an auction on Wednesday with 1.5 billion in three month bills, three billion in six month maturities and 11.5 billion in 12 month bills.

At a 55 billion rupee bond auction held on Tuesday, the public debt department sold bonds maturing on 15.10.2027 and 15.08.2039.

Dealers said there was moderate activity during the day, but the momentum was improving, while yields held steady.

A bond maturing on 15.12.2021 closed at 8.60/70 percent on Tuesday, flat from Monday’s close.

A bond maturing 15.07.2023 closed at 9.53/60 percent, easing from 9.55/60 percent.

A bond maturing on 15.09.2024 closed at 9.93/95 percent, slightly up from 9.92/97 percent.

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A newly issued bond maturing on 15.10.2027 closed at 10.22/25 percent against a weighted average of 10.24 percent at the auction.

A 15-year bond maturing on 15.09.2034 closed at 10.60/65 percent, stable from Monday’s close of 10.60/70 percent.

A newly issued bond maturing on 15.08.2039 closed at 10.60/70 percent, after averaging 10.68 percent at the auction.

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