Sri Lanka rupee opens stronger, bond yields flat

rupee notes

ECONOMYNEXT- The Sri Lanka rupee opened stronger at 180.50/60 to the US dollar on Monday, while bond yields remained flat and stocks opened 0.10 percent higher, brokers and dealers said.

The rupee closed at 180.85/95 against the greenback in the spot market on Friday.
Banks deposited 14.8 billion rupees in excess liquidity at the central bank Friday, down from 23.3 billion rupees on Thursday. The central bank injected 23 billion rupees in the banking system at 7.38 percent Friday.

In equities, Colombo’s All Share Price Index gained 6.06 points to 5,804.63 and the S&P SL20 index of more liquid stocks was up 0.44 percent or 12.44 points to 2,830.20, in the first half hour of trade.

The market turnover was 6 million rupees with 16 stocks gaining and 3 falling.

Dialog Axiata gained 10 cents to 10.60 rupees a share, John Keells Hotels was up 60 cents at 7.70 rupees a share and Sampath Bank gained 1.50 rupees to 160.00 rupees a share, contributing to the gain of the ASPI.

In the secondary bond market, gilt yields remained flat, dealers said.

Dealers said the 2024 maturities were the most liquid.

A bond maturing on 15.10.2021 was quoted at 8.75/85 percent on Monday, up from 8.70/80 percent at Friday’s close.

A bond maturing on 15.03.2023 was quoted at 9.65/70 percent, down from 9.70/85 percent.

A bond maturing on 15.06.2024 was quoted at 10.00/10.05 percent, stable from 10.00/10.04 percent.

A bond maturing on 01.08.2026 was quoted at 10.05/10 percent, unchanged from 10.05/10 percent.

A bond maturing on 15.01.2027 was quoted at 10.05/15 percent, unchanged from 10.05/15 percent.

A bond maturing on 01.05.2028 was quoted flat at 10.05/15 percent.

A 20-year bond maturing on 15.08.2039 was quoted at 10.05/30percent, unchanged from 10.05/35 percent. (COLOMBO, 09 September 2019)