Sri Lanka rupee open stronger, bonds wide amid uncertainty

ECONOMYNEXT – Sri Lanka’s rupee opened at 155.10/20 to the US dollar in the spot market, slightly stronger from Friday’s close of 155.10/25 but bond markets were quiet with quotes wider amid political uncertainty dealer said.

"There a bearish sentiment in bond markets due to political uncertainty," a dealer said. "There is not much interest in the market and people are waiting and watching."

Quotes are also slightly wider reflecting uncertainty, but has started to narrow, dealers said.

A 3-year bond maturing on 01.03.2021 quoted 9.70/90 percent Monday morning up from 9.73/78 percent Friday.

An 8-year bond maturing on 01.08.2026 quoted at 10.20/35 Monday wider from Friday’s closing 10.20/30 percent.

Overnight call money was 8.15 percent and repo 7.80 percent, dealers said.

The spot US dollar opened around 155.10/20 rupees, slightly stronger from Friday’s close of 155.15/30 dealers said.

Stocks opened higher, with the Colombo All Share Index up 0.2 percent in the first half-hour of trading. (Colombo/Feb19/2018- Update 01)

 

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