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Sri Lanka rupee quoted firmer, gilt yields fall 25-bps

sri lanka rupee notes coin

ECONOMYNEXT – Sri Lanka rupee was quoted stronger at 181.30/40 percent to the US dollar in the spot market on Friday while bond yields eased 25 basis points in the secondary market in comparison to pre-monetary policy rates and the stocks.

The Central bank cut its policy corridor by 50 basis points to 7.50 percent and 6.50 percent yesterday in its first monetary policy review.

The rupee closed at 181.40/50 to the greenback on Thursday.

In the equities market, Colombo’s All Share Price Index (ASPI) gained 10.73 points to 5,938.45 and the S&P SL20 Index of more liquid stocks up 0.74 percent or 20.92 points to 2,854.58.

The market turnover was 192 million rupees while 29 stocks gained, and 28 stocks fell.

Hatton National Bank stocks contributed most to ASPI by gaining 3.50 rupees to 134.00 rupees a share.

Heavyweight, Dialog Axiata stocks at 12.60 rupees a share, up 10 cents from yesterday’s trade and Sri Lanka Telecom stocks traded 31.00 rupees a share, gaining a rupee from its last trade.

In the secondary market, gilt rates fell around 20 to 25 basis points on liquid maturities.

Dealers said the auctioned maturities 2024’s and 2027’s were the most liquid.

A bond maturing on 15.12.21 was quoted at 8.45/55 percent on Friday, stable from 8.45/50 percent at Thursday’s close

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A bond maturing on 01.09.2023 was quoted flat at 8.95/9.00 percent from Thursday’s close.

A bond maturing on 15.09.2024 was quoted at 9.20/22 percent on Friday, easing from 9.20/24 percent.

A bond maturing on 15.10.2027 was quoted at 9.38/43 percent down from 9.40/45 percent a day earlier.

A bond maturing on 15.09.2034 was quoted at 9.45/60 percent, steady from 9.45/65 percent at Thursday’s close. (Colombo/Jan31/2020)

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