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Wednesday June 29th, 2022

Sri Lanka rupee dollar ‘guidance rate’ appreciates despite severe forex shortages

ECONOMYNEXT – A guidance rate for interbank transactions determined by the central bank appreciated to 359.75 on Friday from 359.85 on Thursday as the country’s transport sector slowly ground to a halt due to forex shortages.

The rupee was quoted by commercial banks against telegraphic transfers at 367 to the US dollar on Friday/

The ‘guidance rate’ was 359.75 to the US dollar +1.00, or – 4.0 for interbank deals, down from 359.85 to the dollar.

The guidance rate appreciated 10 cents as government schools closed and offices were shut.

In the secondary market, a few maturities were active dealer said.

The bond maturing on 01.06.2025 was quoted at 20.30/21.00.

The bond maturing on 01.06.2025 was quoted at 20.30/21.00.

The three-month T-bill quoted at 20.30/22.00 percent on Friday up from 20.30/50 at Thursday’s close, despite there was more than 1 percent fall in the yield of this short-tenure government securities.

The one-year bill quoted at 21.95/22.30 percent, up from 21.80/22.00 percent on Thursday.

There is strong interest from investors in bills and bonds dealers say after rates went up. (Colombo/June 17/2022)

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