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Sri Lanka rupee opens steady after sharp gain

ECONOMYNEXT – The US dollar opened steady at 174.90/175.20 rupees in early spot market trading Thursday, after the rupee gained sharply the previous day, market participants said. 

The currency closed Wednesday at 174.90/175.10 rupees against the dollar, appreciating sharply from Tuesday’s closing of 176.85/177.00 rupees. 

Market participants said there was selling interest among banks in both spot and forwards markets, but demand for the greenback was lower. 

In gilts, the secondary bond market was not yet active.

A bond maturing in 2021 closed lower at 9.80/90 percent on Wednesday, down from previous close 9.95/10.05 percent.

A bond maturing in 2022 ended 10.00/10 percent down from previous closing of 10.10/18 percent.

A 2023 bond ended at 10.30/40 down from previous closing of 10.38/46 percent and a 2024 bond closed at 10.50/59 percent lower, down from 10.60/67 percent.

A bond maturing in 2026 closed at 10.72/78 down from the previous closing of 10.80/87 percent.

A bond maturing in 2029 ended lower at 10.91/11.02 percent from the previous closing of 10.98/11.04 percent. (COLOMBO, 9 May 2019-SB)

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