Sri Lanka rupee quoted weaker, bond yields ease
ECONOMYNEXT- Sri Lanka’s rupee was quoted weaker at 181.80/85 to the US dollar in the spot market on Thursday while bond yields eased and stocks opened 0.34 percent higher, dealers said.
The rupee ended at 181.65/70 to the greenback on Wednesday.
In equities, Colombo’s All Share Price Index gained 19.30 points to 5,662.92 and S&P SL20 index of more liquid stocks up 0.59 percent or 15.70 points to 2,686.67, within half-hour of trade.
The market turnover was 34.2 million rupees while 27 stocks profited, and 13 stocks fell.
Sri Lanka Telecom plc stocks gained 2.40 rupees to 31.40 rupees a share, Trans Asia Hotels traded 7.00 rupees up at 65.00 rupees a share and Commercial Bank of Ceylon stocks up 1.00 rupees to 88.00 rupees a share, contributing mostly to ASPI’s gain.
Liquidity in the overnight money market was 58.56 billion rupees on Wednesday, up from 33.18 billion rupees on Tuesday’s close.
In the government securities market, bond yields eased in active trade as a result of an increase in liquidity in the overnight money market.
Dealers said that the 2024 maturity remained liquid.
A bond maturing on 15.12.2021 was quoted at 8.75/90 percent on Thursday, stable from 8.75/9.00 percent at Wednesday’s close.
A bond maturing on 01.09.2023 was quoted at 9.35/45 percent, easing from 9.40/50 percent at its previous close.
A bond maturing on 15.09.2024 was quoted at 9.63/67 percent on Thursday, falling from 9.68/75 percent at Wednesday’s close.
A bond maturing on 15.10.2027 was quoted at 9.80/90 percent, sliding from 9.85/95 percent at Wednesday’s close.
A bond maturing on 15.05.2030 was quoted 9.90/10.10 percent on Thursday, stable from 9.90/10.20 percent at yesterday’s close.
A bond maturing on 15.09.2034 was quoted at 9.90/10.15 percent, steady from 9.90/10.20 percent its last close. (Colombo/Feb27/2020)
Kithmina Hewage- Institute of Policy Studies