Sri Lanka rupee opens weaker, gilt yields ease marginally

ECONOMYNEXT– The Sri Lanka rupee opened weaker at 180.65/75 to the US dollar on Wednesday, while bond yields eased slightly and the stocks opened 0.08 percent higher, brokers and dealers said.

The rupee closed at 180.55/70 against the greenback in the spot market on Tuesday.

Sri Lanka’s debt office is offering 8.5 billion rupees split into 2 billion rupees maturing in 3-months, 1 billion rupee in 6-month maturity and 5.5 billion rupees in 12-months maturity in a weekly auction to be held today.

In equities, Colombo’s All Share price index gained 4.75 points to 5,815.82, and the S&P SL20 of more liquid stocks fell 0.12 percent or 3.48 points to 2,783.12, in the first half-hour of trade.

Market turnover was 371.7 million rupees with 24 stocks gaining and 14 falling.

Sri Lanka Telecom gained 80 cents to 30.50 rupees a share, Commercial Leasing and Finance up 10 cents to 3.10 rupees a share and Union Assurance gained 9.0 rupees to 334 rupees a share, contributing to ASPI’s gain.

In the secondary bond market, gilt yields eased in moderate trading, dealers said.

A bond maturing on 15.10.2021 was quoted at 9.95/10.10 percent on Wednesday, down from 10.00/10.10 percent at Tuesday’s close.

A bond maturing on 15.03.2023 was quoted at 9.80/95 percent, easing from 9.85/10.00 percent.

A new bond maturing on 15.09.2024 was quoted at 10.34/36 percent, slightly falling from 10.35/40 percent.

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A bond maturing on 01.08.2026 was quoted not quoted.

A bond maturing on 01.05.2028 was quoted not quoted.

A 15-year bond maturing on 15.09.2034 was quoted at 10.92/95 percent, easing from 10.95/11.00 percent.

(COLOMBO, 18 September 2019)