ECONOMYNEXT – Sri Lanka rupee closed weaker around 194/198 levels to the US dollar in the spot market on Monday after opening at 189/190 levels, while bond yields remained unchanged, dealers said.
Sri Lanka rupee last closed at 192/194 levels to the US dollar in the spot market on Friday.
The Central Banks Telegraph Transfers rates stand at 187.93/191.97 levels below the spot rates on Monday.
Sri Lanka’s rupee has come under pressure amid money printing and low-interest rates, despite the worst import controls since the 1970s.
Sri Lanka’s central bank has reduced interventions despite printing money, as reserves reduced. This week Sri Lanka got a 500 million dollar loan from China.
Bond markets were also quiet with few maturities being quoted, dealers said.
Bonds maturing on 15.12.2022 closed at 5.97/6.00 per cent on Monday, down from 5.98/6.05 per cent on Friday.
Bonds maturing on 15.11.2023 closed at 6.50/57 per cent on Monday, up from 6.40/50 per cent on Friday.
Bonds maturing on 15.12.2024 closed unchanged at 6.75/90 per cent.
A bond maturing on 01.05.2025 closed at 6.90/20 per cent on Monday, steady from 6.90/10 per cent.
A bond maturing on 01.02.2026 closed at 7.10/30 per cent.
A bond maturing on 15.08.2027 closed at 7.65/85 per cent on Monday.
A bond maturing on 01.05.2029 closed at 7.90/20 per cent.
A bond maturing on 15.05.2030 closed flat at 8.00/50 per cent on Monday