Sri Lanka rupee opens firmer, gilt yields ease

ECONOMYNEXT – Sri Lanka’s rupee opened firmer at 180.50/70 to the US dollar on Tuesday from Monday’s close, while bond yields eased and stocks opened 0.26 percent higher, brokers and dealers said.

The rupee closed at 181.40/50 to the greenback on Monday.

In equities, Colombo’s All Share Price Index gained 14.95 points to 5,723.87 and the S&P SL20 index of more liquid stocks gained 0.53 percent or 14.80 points to 2,793.02, in the first half-hour of trade.

The market turnover was 29 million rupees with 20 stocks gaining and 6 falling.

John Keells Holdings was up 1.00 rupee to 153.00 rupees a share, Commercial Bank of Ceylon was 90 cents up at 99.90 rupees a share and Dialog Axiata was up 10 cents to 10.60 rupees a share, contributing to the rise of the ASPI.

Rates were marginally down in the secondary bond market, dealers said.

A bond maturing on 15.12.2021 was quoted flat at 8.75/8.85 percent on Tuesday.

A bond maturing 15.07.2023 was quoted at 9.80/85 percent, down from 9.85/90 percent on Monday.

A bond maturing on 15.09.2024 was quoted at 10.20/23 percent, down from 10.25/30 percent on Monday’s close.

A 15-year bond maturing on 15.09.2034 was quoted at 10.72/78 percent, up from 10.70/80 percent on Monday.
(Colombo/Oct08/2019)

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