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Sri Lanka rupee ends weaker, gilt yields flat

ECONOMYNEXT – Sri Lanka rupee closed weaker at 185.40/55 against the US dollar on Friday while bond yields remained unchanged, dealers said.

The rupee closed at 184.90/185.00 to the greenback on Thursday.

In the secondary government securities markets, bond yields were flat, dealers said.

The secondary bond market snapped the muted week while recording ultra-thin volumes during the day as market participants continued to adopt a wait and see stance, FirstCapital Research said in its daily report.

A 2-year bond maturing on 15.12.2022 closed at 5.53/58 per cent on Friday, up from 5.50/60 per cent at Thursday’s closing.

A bond maturing on 15.01.2023 closed at 5.55/62 per cent, up from 5.53/65 per cent at its last close.

A bond maturing on 15.09.2024 closed at 6.08/10 per cent on Friday, up from 6.05/15 per cent at previous day’s closing.

A bond maturing on 01.05.2025 closed at 6.35/43 per cent, steady from 6.35/45 per cent at the previous day’s closing.

A bond maturing on 01.02.2026 closed at 6.56/62 per cent, up from 6.55/62 per cent at its previous close on Thursday.

A bond maturing on 15.08.2027 closed flat at 6.90/95 per cent at previous day’s closing.

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The new bond maturing on 01.07.2028 closed flat at 7.05/15 per cent on Friday, stable from 7.05/13 per cent at Thursday’s closing.

A 10-year bond maturing on 15.05.2030 closed at 7.23/33 per cent, down from 7.25/40 per cent at the previous day’s closing.

The cabinet Minister of Industries Wimal Weerawansa accused central of not prioritsing customer being but rather formulating most of its monetary policies with the well-being of banks and finance companies.

From the main oppostions end, Samagi Jana Balavegaya (SJB) General Secretary Ranjith Madduma Bandara said provisions in the draft 20th amendment could effectively render the prime minister toothless. “This will make the prime minister an invalid coin,” he told reporters this morning.

(Colombo/ Sep18/2020)

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