Sri Lanka rupee closes weaker, gilt yields steady

rupee notes

ECONOMYNEXT- The Sri Lanka rupee closed weaker at 180.75/85 to the US dollar on Thursday, while bond yields remained stable, brokers and dealers said.

The rupee closed at 180.50/70 against the greenback in the spot market on Wednesday.

In the money market, liquidity in the overnight money market was 8.60 billion rupees after a 6-day shortage, closing yesterday at a negative 2.23 billion rupees.

The central bank injected 20 billion rupees in overnight money at 7.48 percent and 15 billion rupees in 14-day money at 7.494 percent.

Another 20 billion rupees in a 14-day reverse repo auction will be settled on Friday.

In the secondary bond market, gilt yields were stable in active trading, dealers said.

Dealers said the 2024 maturities were the most liquid.

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A bond maturing on 15.10.2021 closed at 9.00/9.10 percent on Thursday, up from 8.95/9.05 percent at Wednesday’s close.

A bond maturing on 15.03.2023 closed at flat at 9.80/90 percent.

A bond maturing on 15.06.2024 remained unchanged at 10.05/10 percent.

A bond maturing on 01.08.2026 closed at 10.10/20 percent, stable from 10.10/15 percent.

A bond maturing on 15.01.2027 closed unchanged at 10.10/20 percent.

A bond maturing on 01.05.2028 closed at 10.10/25 percent, steady from 10.10/20 percent.

A 20-year bond maturing on 15.08.2039 closed at 10.10/40 percent, stable 10.10/35 percent. (COLOMBO, 05 September 2019)