Sri Lanka rupee opens weaker, bonds yields slightly higher

ECONOMYNET – Sri Lanka’s rupee was quoted at around 180.20/180.40 levels to the US dollar in the spot market, weaker from Friday, while and bonds yields were higher and stocks opened firmer in thin trade. amid a continuing political crisis in the country, dealers said.

The rupee closed around 179.50/180.00 to the US dollar Friday.

Sri Lanka is in a deepening political crisis. President Maithripala Sirisena said he will not reappoint Ranil Wickremesinghe as Prime Minister even if there is a no-confience motion to his satisfaction and Mahinda Rajapaksa has called for a general election.

Stock were up 0.2 percent after one hours of trading, amid thin volumes.

In money markets, call money and repo were quoted at 8.90/9.00 percent.

In bond markets a three-year bond maturing on 01.03.2021 was quoted at around 11.85/95 percent on Monday from 11.85/90 percent on Friday.

A five-year bond maturing on 15.07.2023 was quoted at around 12.00/30 percent, up from Friday’s close of 12.00/25 percent.

An 8-year bond maturing on 15.06.2027 was quoted at 12.40/50 percent, around the same level as Friday’s close. (Colombo/Nov19/2018)