Sri Lanka rupee opens stronger, bond yields fall

rupee Sri Lanka

ECONOMYNEXT- The Sri Lanka rupee opened stronger at 180.00/80 to the US dollar on Friday, while bond yields fell and stocks opened 0.13 percent higher, brokers and dealers said.

The rupee closed at 180.75/85 against the greenback in the spot market on Thursday.

In equities, Colombo’s All Share Price Index fell 7.45 points to 5,842.80 and the S&P SL20 Index of more liquid stocks was down 0.11 percent or 3.20 points to 2,856.74 in the first half hour of trade.

The market turnover was 7.2 million rupees with 6 stocks gaining and 12 falling.

Seylan Bank fell 11.60 rupees to 56.90 rupees a share, Access Engineering was down 50 cents at 17.90 rupees a share and Richard Pieris fell 10 cents to 10.40 rupees a share, contributing to the fall of ASPI.

In the secondary bond market, gilt yields fell in active trading due to liquidity in overnight money markets turning to a surplus on Thursday due to higher bank deposits and liquidity injections.

The Central Bank of Sri Lanka had maintained a liquidity short over the six previous days.

A bond maturing on 15.10.2021 was quoted at 8.80/90 percent on Friday, down from 9.00/9.10 percent at Thursday’s close.

A bond maturing on 15.03.2023 was quoted at 9.70/80 percent, down from 9.80/90 percent.

A bond maturing on 15.06.2024 was quoted at 10.00/10.03 percent, falling from 10.05/10 percent.

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A bond maturing on 01.08.2026 was quoted at 10.05/15 percent, down from 10.10/15 percent.

A bond maturing on 15.01.2027 was quoted at 10.05/15 percent, down from 10.10/20 percent.

A bond maturing on 01.05.2028 was quoted at 10.05/25 percent, falling from 10.10/25 percent.

A 20-year bond maturing on 15.08.2039 was quoted at 10.10/30 percent, stable from 10.10/40 percent. (COLOMBO, 06 September, 2019)

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