Sri Lanka rupee opens weaker, gilt yields down
ECONOMYNEXT – Sri Lanka’s rupee opened weaker at 181.20/40 to the US dollar on Tuesday, while bond yields fell and stocks opened 0.10 percent higher, brokers and dealers said.
Sri Lanka rupee closed 180.95/181.10 to the greenback on Monday.
In equities, Colombo’s All Share Price Index gained 5.76 points to 5,875.85 and the S&P SL20 index of more liquid stocks gained 0.05 percent or 1.40 points to 2,901.66, in the first half-hour of trade.
The market turnover was 66 million rupees with 31 stocks gaining and 15 falling.
Ceylon Tobacco Company was up 19.10 rupees to 1,070.00 rupees a share, contributing most to the ASPI gain.
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In the secondary bond market, bond yields were down, dealers said.
A bond maturing on 15.12.2021 was quoted at 8.65/75 percent on Tuesday gaining from 8.62/72 percent from Monday’s close.
A bond maturing 15.07.2023 was quoted at 9.60/70 percent, down from 9.63/70 percent on Monday.
A bond maturing on 15.09.2024 was quoted at 10.00/05 percent, falling from 10.05/10 percent onMonday’s close.
A 15-year bond maturing on 15.09.2034 was quoted at 10.68/70 percent down from 10.69/72 percent.
Kithmina Hewage- Institute of Policy Studies