Sri Lanka rupee quoted around 194.00/195.50 in spot-next, gilt yields down

ECONOMYNEXT – Sri Lanka’s rupee was quoted around 194.00/195.50 in the spot-next market on Monday while bond yields eased ahead of the first policy review on Tuesday, dealers said.

Rupee last closed around 195.20/195.70 in the one-week forward market on Friday against the greenback.

The central bank’s indicative spot rate was 192.7447 on January 18, up from 191.0367 on January 15 on Friday.

The commercial bank average buying rate for dollar telegraphic transfers was 190.7700/196.0500 on January 15, steady from 190.3300/194.0700 from on January 13.

Indicative US dollar spot quoted at the moment around 192.7447 rupees.

Sri Lanka will have the first-policy review meeting of the year tomorrow, Tuesday.

Market analysts are expecting Central Bank to keep the rates unchanged as the lower interest rates are seen to reap benefits.

Sri Lanka’s stocks market soared 3 per cent on Friday due to excessive liquidity in the market and lower interest making stocks a lucrative asset class.

Sri Lanka stocks have risen the most in the world in 2021 after Venezuela in local currency and is just behind Vietnam and Bermuda in US dollar terms among stock markets tracked by Bloomberg.

The ASPI’s 3.91 per cent gain on January 15 was the highest daily rise among markets tracked by Bloomberg.





Colombo stocks were up 9.72 per cent in US dollar terms.

On Monday, the Colombo’s Stock Exchange’s main index All Share Price (ASPI) opened at the 8,000 psychological benchmarks.

In bond markets, gilt yields eased but the long-tenor yields were up, dealers said.

A 2-year bond maturing on 15.12.2022 was quoted at 5.30/35 per cent on Monday, down from 5.35/42 per cent at Friday’s end.

A bond maturing on 15.01.2023 was quoted at 5.35/40 per cent on Monday, down from 5.40/45 per cent at the last closing.

A bond maturing on 15.09.2024 was quoted at 6.20/30 per cent on Monday, down from 6.22/28 per cent.

A bond maturing on 01.05.2025 was quoted at 6.35/45 per cent, up from 6.32/42 per cent at Friday’s end.

A bond maturing on 01.02.2026 was quoted at 6.60/65 per cent, up from 6.53/60 per cent at the last closing.

A bond maturing on 15.08.2027 was quoted at 7.05/15 per cent, steady from 7.05/13 per cent at the last closing.

A bond maturing on 01.07.2028 quoted flat at 7.20/40 per cent.

A 10-year bond maturing on 15.05.2030 was quoted steady at 7.60/80 per cent on Monday, from 7.60/75 per cent at Friday’s end. (Colombo/Jan18/2021)

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