Sri Lanka rupee quoted firmer, gilt yields flat
ECONOMYNEXT – Sri Lanka rupee stronger at 184.20/60 to the US dollar in the spot market on Tuesday while gilt yields flat in dull market trade, dealers said.
The rupee closed at 184.30/45 to the US dollar on Monday.
Sri Lanka’s is preparing to present the budget for 2020 amid weak revenues from a 2019 tax cut, a Coronavirus pandemic and which has led to record money printing and credit downgrades.
The administration is seeking authority to spend 2,687 billion rupees under the law.
In the secondary securities market, bond yields remained unchanged, dealers said.
A 2-year bond maturing on 15.12.2022 was quoted flat at 5.75/85 per cent on Tuesday from the previous day’s closing.
A bond maturing on 15.01.2023 was quoted at 5.75/95 per cent, down from 5.80/90 per cent at the previous day’s end.
A bond maturing on 15.09.2024 was quoted at 6.35/42 per cent on Tuesday, down from 6.37/40 per cent at the previous day’s end.
A bond maturing on 01.05.2025 was quoted at 6.45/60 per cent on Tuesday, steady from 6.45/55 per cent.
A bond maturing on 01.02.2026 was quoted at 6.65/80 per cent, steady from 6.65/75 per cent from yesterday’s closing.
A bond maturing on 15.08.2027 was quoted at 7.04/10 per cent on Tuesday, down from 7.02/08 per cent at the previous day’s end.
A bond maturing on 15.07.2028 was quoted at 7.15/30 per cent, steady from 7.15/22 per cent.