Sri Lanka rupee ends slightly weaker, gilt yields ease

ECONOMYNEXT- Sri Lanka’s rupee closed weak at 176.75/85 percent against the US dollar in the spot market on Friday while bond yields eased, dealers said.

The rupee closed at 176.70/80 against the greenback on Thursday.

Liquidity in the overnight money market was down at 16.1 billion rupees from 24.69 rupees previous day.

The central bank mopped up 10 billion rupees in a 5-day term repo auction at 7.79 percent.

Dealers said that there was some buying interest in the secondary bond market as a result of a marginal foreign buying witnessed in the market yesterday.

Bond yields eased, with little activity in the market centered on the 2021, 2023 and 2024 maturities, dealers said.

A bond maturing on 15.10.2021 closed at 9.45/50 percent, down from 9.58/63 percent at Thursday’s close.

A bond maturing on 15.12.2021 closed at 9.48/53, falling from 9.60/65 percent.

A bond maturing on 15.03.2023 closed at 9.85/93 percent, easing from 10.00/10.05 percent.

A bond maturing on 15.03.2024 closed at 10.05/10 percent, falling from 10.15/20 percent.

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A bond maturing on 01.08.2026 closed at 10.25/33, down from 10.35/45 percent.

A bond maturing on 15.01.2027 ended 10.36/42 percent, declining from 10.48/52 percent.

A 10-year bond maturing on 01.05.2029 ended 10.50/56 percent, easing from 10.55/65 percent. (COLOMBO, 21 June, 2019)

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