Sri Lanka rupee ends slightly firmer around 193/194 levels in spot market

ECONOMYNEXT- Sri Lanka’s closed slightly firmer around 193/194 levels in the spot market on Wednesday, while bond yields edged higher, dealers said.

The rupee closed around 194.00/196.00 to the US dollar on Tuesday.

Sri Lanka’s markets will be closed on Thursday for National Independence day holiday.

The central bank’s indicative spot rate was 194.0008 on February 03, down from 192.5656 on February 02, while the buying rate for Telegraphic transfers was 190.4000 and the sell rate is 195.5000 on Wednesday morning.

Sri Lanka’s commercial banks have been asked to sell 10 per cent of foreign worker remittances that are converted each day to the central bank. The rule came after the government gave two rupees to a dollar extra for worker remittances in the latest budget

In bond markets, yields slightly edged up while the over all market remained high.

A bond maturing on 15.12.2022 clsed at 5.42/48 per cent on Wednesday, up from 5.40/43 per cent at Tuesday’s end.

A bond maturing on 01.10.2023 closed at 5.80/90 per cent on Wednesday, up from 5.75/85 per cent.

A bond maturing on 01.12.2024 closed at 6.43/47 per cent, up from 6.35/39 per cent a day earlier.

A bond maturing on 01.05.2025 closed at 6.55/65 per cent, up from 6.50/60 per cent from the last close.

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A bond maturing on 01.02.2026 closed at 6.70/85 per cent, up from 6.65/75 per cent at Tuesday’s end.

A bond maturing on 15.08.2027 closed at 7.10/20 per cent on Wednesday, up 7.12/22 per cent at the previous day’s close.

A bond maturing on 15.05.2030 closed flat at 7.55/75 per cent from Tuesday’s end. (Colombo/Feb03/2021)

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