Sri Lanka rupee opens weaker in forex markets
ECONOMYNEXT – Sri Lanka’s rupee opened at 138.40/60 rupees to the US dollar in the spot forex market Wednesday weaker down from yesterday’s close of 138.30/50 levels, dealer said, amid excess liquidity in money markets.
The rupee fell to 138.80/90 levels against the US dollar in late morning trade.
Overnight money was quoted at 6.30/35 and gilt backed repos at 6.30/40 levels. Excess liquidity was only slightly down in money markets at 60.4 billion rupees, down from 61.8 billion rupees a day earlier. Large liquidity losses come from dollar sales by the Central Bank.
The debt office is offering 24 billion rupees of Treasury bills at an auction later on Wednesday.
In the second market 3-month bills were quoted around 6.80/7.00 percent, 6-months around 7.15/25 and 12-months around 7.20/50 percent, dealer said.
One year bills were sold at an average yield of 7.17 percent at the last auction. (Colombo – Sept09/2015)