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Wednesday May 12th, 2021
Bonds & Forex

Sri Lanka rupee quoted higher around 189/190 levels to US dollar

ECONOMYNEXT – Sri Lanka rupee quoted higher around 189/190 levels to the US dollar in the spot market on Monday mid-morning trade, amid interventions, while bond yields remained unchanged, dealers said.

Sri Lanka rupee last closed at 192/194 levels to the US dollar in the spot market on Friday.

However, even though the rupee closed at 192/194 levels in the spot market on Friday, the Central Banks Telegraph Transfers rates stand at 195.7200/201.2800 levels above the spot rates.

Sri Lanka’s rupee has come under pressure amid money printing and low interest rates, despite the worst import controls since the 1970s.

Sri Lanka’s central bank has reduced interventions despite printing money, as reserves reduced. This week Sri Lanka got a 500 million dollar loan from China.

Bond markets were also quiet with few maturities being quoted, dealers said.

Bonds maturing on 15.12.2022 was quoted at 5.95/6.05 per cent on Monday, down from 5.98/6.05 per cent on Friday.

Bonds maturing on 15.11.2023 was quoted flat at 6.40/50 per cent on Mondy from Friday.

Bonds maturing on 15.12.2024 was quoted unchanged at 6.75/90 per cent.

A bond maturing on 01.05.2025 was quoted at 6.90/10 per cent.

A bond maturing on 01.02.2026 was quoted at 7.15/25 per cent.

(Colombo/Apr19/2021)

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