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Sri Lanka rupee opens stronger, gilt yields flat

ECONOMYNEXT – Sri Lanka rupee was quoted stronger at 186.10/40 against the US dollar on Monday while bond yields remain unchanged, dealers said.

Rupee ended at 186.45/65 rupees against the greenback on Friday.

In the secondary government securities markets, bond yields were flat in dull trade, dealers said.

Dealers said that not much liquidity was seen in any of the maturities as the market was sluggish with few bids seen for short tenures.

“The secondary bond market witnessed mixed activities with moderate trades while the market participants continued to adopt a wait and see stance,” a report by First Capital Research said on last Friday and the market has not seen much activity since then.

A 2-year bond maturing on 15.12.2022 was quoted at 5.50/60 percent on Monday, down from 5.53/58 per cent at Friday’s closing.

A bond maturing on 15.01.2023 was quoted at 5.55/60 percent, down from 5.58/65 per cent at the previous closing.

A bond maturing on 15.09.2024 was quoted at 6.08/12 percent, down from 6.10/15 per cent at Friday’s closing.

A bond maturing on 01.05.2025 was quoted at 6.35/43 percent, unchanged from 6.35/45 per cent at the previous day’s closing.

A bond maturing on 01.02.2026 was quoted at 6.50/57 per cent down from 6.52/58 from the previous close.

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A bond maturing on 15.08.2027 was quoted flat at 6.90/95 percent, unchanged from 6.90/93 per cent on last week’s closing.

A 10-year bond maturing on 15.05.2030 was quoted at 7.25/35 per cent from 7.25/30 per cent on the previous day’s closing. (Colombo/Aug31/2020)