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Sri Lanka rupee ends weaker, bond yields fall

ECONOMYNEXT – Sri Lanka rupee closed lower at 186.60/70 to US dollar in the spot market on Wednesday while bond yields were eased, dealers and brokers said.

Sri Lanka rupee ended at 186.55/65 to the greenback on Tuesday’s close.

Liquidity in the overnight money market was 207.39 billion rupees on Wednesday, up from 204.74 billion rupees at the previous day’s close.

In the secondary government securities market, bond yields fell in active trade, dealers said.

In today’s bills auction, Sri Lanka’s debt office sold 27 billion rupees split in to 7.5 billion rupees maturing in 3-months, 3.5 billion rupees maturing in 9-months and 16 billion rupees maturing in 12 months.

Treasury bill yields fell across all maturity,

The 12 month bill yield down 96 basis points to 5.66 percent, with the central bank selling the whole 16 billion rupees offered.

The 9-month bill yield fell to 5.53 percent from 6.30 percent, with 3.5 billion rupees in bills offered and sold.

The 3-month yield fell 80 basis points to 5.50 percent from 6.30 percent last, with 7.5 billion offered and 3.0 billion sold.

All maturities starting from 2022 to 2026 were seen highly liquid in the market, dealers said.

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A 2-year bond maturing on 15.12.2022 closed at 5.95/6.03 percent on Wednesday, easing from 6.15/23 percent at Tuesday’s end.

A bond maturing on 15.01.2023 closed at 6.5/15 percent, down from 6.25/33 percent.

A bond maturing on 15.09.2024 closed at 6.63/70 percent, slipping from 6.88/95 percent at the previous day’s close.

A bond maturing on 01.05.2025 closed at 6.83/90 percent on Wednesday, easing from 7.05/15 percent at yesterday’s end.

A bond maturing on 01.02.2026 closed at 6.95/7.05, plunging from 7.17/25 percent at Tuesday’s end.

A bond maturing on 15.10.2027 closed at 7.10/20 percent, down from 7.30/40 percent at the previous day’s close.

(Colombo/June24/2020)

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