Sri Lanka rupee opens weaker, gilt yields edge up

ECONOMYNEXT- The Sri Lanka rupee opened weaker at 180.55/80 to the US dollar on Wednesday, while bond yields gained and stocks opened 0.15 percent higher, brokers and dealers said.

The rupee closed at 180.35/50 against the greenback in the spot market on Tuesday.

In equities, Colombo’s All Share Price Index gained 8.66 points to 5,892.08 and the S&P SL20 index of more liquid stocks down 0.04 percent or 1.30 points to 2,888.64, in the first-half hour of trade.

The market turnover was 121.9 million rupees with 23 stocks gaining and 10 falling.

Lanka Realty Investment gained 3.80 rupees to 47.00 rupees a share, Commercial Leasing and Finance up 10 cents to 3.00 rupees a share, contributing to ASPI’s gain.

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

Sri Lanka’s debt office is offering 15 billion rupees in auction, split in to 1 billion in 3-months maturity, 1 billion in 6-months maturity and 13 billion in 12-month maturity.

A bond maturing on 15.10.2021 was quoted at 8.95/9.10 percent on Wednesday, up from 8.85/95 percent at Tuesday’s

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