Sri Lanka rupee opens steady

ECONOMYNEXT – Sri Lanka’s rupee opened unchanged at 176.50/60 to the US dollar in the spot market, dealers said.

The rupee closed at 176.50/60 against the US dollar on Wednesday.

The central bank mopped up 30 billion rupees through an overnight repo auction at 7.80 percent and 7 day term repo at 8.11 percent and 8-day term repo at 8.12 percent on Wednesday.

The state debt office unexpectedly rejected 12-month bills at the weekly auction held on Wednesday, for the first time since October 2018, after offering 11 billion rupees in bills, dealers said.

The government had covered the shortfall through more 3-month and 6-month bills than offered.

Twelve month bills was quoted at 8.85/9.00 percent on Thursday unchanged from 8.85/9.00 percent on Wednesday’s close.

A bond maturing on 15.12.2021 was quoted at 9.75/85, having closed at 9.70/80 percent on Wednesday.

A bond maturing on 15.03.2023 was quoted at 10.20/25 percent, from 10.20/30 percent close yesterday.

A bond maturing on 15.03.2024 was quoted at 10.30/40 percent, down from 10.35/40 percent.

A bond maturing on 01.08.2026 was quoted at 10.55/63 percent on Thursday compared to 10.55/65 percent at Wednesday’s close.

A bond maturing on 15.01.2027 was quoted at 10.60/68 percent today, from 10.60/70 percent.

A 10-year bond maturing on 01.05.2029 was quoted at 10.68/78 percent, down from 10.70/80 percent.  (Colombo/Jun13/2019)