Sri Lanka rupee ends lower, bond yields steady

ECONOMYNEXT – Sri Lanka’s rupee closed weaker at 176.25/35 to the US dollar in the spot market on Tuesday and gilt yields were steady, dealers said.

The rupee closed at 176.20/30 to the US dollar in the spot market on Monday. 

Overnight liquidity in money markets fell to 31.98 billion rupees on Tuesday from Monday’s 43.20 rupees. Banks deposited 20.77 billion rupees through the window.

The Central bank mopped up 5 billion rupees in liquidity by purchasing bonds. Another 12.1 billion rupees were mopped up at 8.61 percent through a term repo auction to counter similar maturities.

In the bond market, yields were stable in dull trading ahead of Wednesday’s bill auction and Friday’s monetary policy announcement, dealers said.

A bond maturing on 15.12.2021 closed at 9.40/55 percent on Tuesday, flat from 9.40/50 percent Monday’s close.

A bond maturing on 15.03.2023 closed unchanged at 9.85/90 percent.

A bond maturing on 15.03.2024 closed at 9.98/10.03 percent, up from 9.95/10.02 percent.

A bond maturing on 01.08.2026 closed at 10.25/30 percent, stable from 10.25/32 percent.

A bond maturing on 15.01.2027 closed at 10.38/43 percent, up from 10.33/40 percent.

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A 10-year bond maturing on 01.05.2029 closed flat at 10.55/60 percent. (COLOMBO, 28 May 2019)

 

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