Sri Lanka rupee opens weaker, bond yields flat

ECONOMYNEXT – The Sri Lanka rupee opened weaker at 180.60/70 to the US dollar on Tuesday, while bond yields remained unchanged and stocks opened 0.02 percent lower, brokers and  dealers said.

The rupee closed at 180.45/55 against the greenback in the spot market on Monday.

In equities Sri Lankan stocks opened weaker on  Tuesday with the benchmark index dragged down mainly by a sharp fall in the share price of Melstacorp, brokers said.

The benchmark All Share Price Index was down 0.02 percent or one point to 5,827.13 while the more liquid S&P SL20 index was at 2,801.47, down 6.49 points or 0.23 percent.

Melstacorp was down 2.50 rupees or 5.32 percent to 44.50 rupees, stock exchange data showed.

In the secondary bond market, gilt yields remained unchanged in very dull trading, dealers said.

A bond maturing on 15.10.2021 was quoted at 10.00/10.10 percent up from 9.90/10.10 percent.

A bond maturing on 15.03.2023 remained unchanged at 9.85/10.00 percent.

A new bond maturing on 15.09.2024 was quoted at 10.32/40 percent, down from 10.35/38 percent.

A bond maturing on 01.08.2026 was quoted not quoted.

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A bond maturing on 01.05.2028 was quoted not quoted.

A new 15-year bond maturing on 15.09.2034 was quoted stable at 10.95/11.00 percent.

(COLOMBO, 17 September 2019)