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Sri Lanka rupee ends firmer, bond yields stable

ECONOMYNEXT – Sri Lanka rupee closed firmer at 184.55/70 to the US dollar on and bond yields were stable, dealers said as the new Coronavirus cluster numbers increased.

The rupee closed at 184.60/184.80 against the greenback on Monday.

Sri Lanka imposed quarantine curfew on the Gampaha police division starting at 6pm today due to rising numbers in the Coronavirus cluster.

The Health Ministry banned all public gatherings island wide, including parties, conferences, seminars, lectures, exhibitions, concerts, festivals, processions, demonstrations and all other non-essential gatherings to curb the spread of the virus.

Liquidity in the overnight money market was 160.02 billion rupees on Tuesday, up from 136.45 billion rupees from yesterday’s close.

Banks deposited 160.02 billion rupees in central bank’s excess liquidity window on Tuesday.

In the secondary securities market, bond yields were stable in dull market trade, dealers said.

A 2-year bond maturing on 15.12.2022 was quoted at 5.70/80 per cent on Tuesday, steady from 5.70/85 per cent at Monday’s closing.

A bond maturing on 15.01.2023 closed at 5.80/85 per cent, up from 5.75/95 per cent at the last closing.

A bond maturing on 15.09.2024 closed at 6.25/30 per cent, marginally up from 6.22/32 per cent at Monday’s closing.

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A bond maturing on 01.05.2025 closed at 6.50/65 per cent on Tuesday, up from 6.45/60 per cent at Monday’s closing.

A bond maturing on 01.02.2026 closed at 6.80/90 per cent, stable from 6.80/88 per cent at previous day’s end.

A bond maturing on 15.08.2027 closed at 7.05/10 percent up from closing at 7.03/13 per cent on Monday.

A bond maturing on 01.07.2028 closed at 7.15/25 per cent flat from the previous day’s end.

A 10-year bond maturing on 15.05.2030 closed at 7.40/60 per cent, up from 7.15/35 per cent at Monday’s closing. (Colombo/October 06/2020)