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Sri Lanka rupee ends firmer, gilt yields marginally down

ECONOMYNEXT – Sri Lanka rupee closed firmer at 184.10/25 to the US dollar on Thursday while bond yields marginally eased, dealers said.

The rupee closed at 184.30/45 against the greenback on Thursday.

The Brandix cluster infection chain continued to grow passing over 1,000 infection cases by Thursday.

Over 50,000 of Sri Lanka’s free trade zone (FTZ) workers are at risk of exposure to COVID-19 as a result of the unexpected Brandix apparel factory cluster which at last count was at 1,044 confirmed cases, according to an activist.

While the country’s Health Minister remained silent at today’s parliament briefings.

Liquidity in the overnight money market was 166.51 billion rupees on Thursday, up from 149.67 billion rupees from Wednesday’s close.

Banks deposited 171.51 billion rupees in the central bank’s excess liquidity window on Thursday.

In the secondary securities market, bond yields marginally eased while the overall market remained dull, dealers said.

FirstCapital daily market report said, “slight buying interest was seen across the yield curve on selected maturities whilst overall market witnessed thin volumes.”

A 2-year bond maturing on 15.12.2022 closed at 5.60/70 per cent on Thursday, down from 5.62/72 per cent at Wednesday’s closing.

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A bond maturing on 15.01.2023 closed at 5.65/75 per cent on Thursday, down from 5.70/80 per cent at the last closing.

A bond maturing on 15.09.2024 closed at 5.90/6.00 per cent, down from 6.20/27 per cent at previous closing.

A bond maturing on 01.05.2025 closed at 6.50/55 per cent, up from 6.45/55 per cent at Wednesday’s end.

A bond maturing on 01.02.2026 closed at 6.70/73 per cent, steady from 6.70/77 per cent at the previous day’s end.

A bond maturing on 15.08.2027 was quoted at 6.98/7.03 per cent on Thursday, up from 6.95/7.03 per cent at the previous day’s end.

A bond maturing on 01.07.2028 closed at 7.10/25 per cent, stable from 7.10/30 per cent.

A 10-year bond maturing on 15.05.2030 closed at 7.40/50 per cent, up from 7.35/60 per cent at the previous day’s end. (Colombo/October 08/2020)

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