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Sri Lanka rupee quoted weaker, bond yields unchanged

ECONOMYNEXT- Sri Lanka’s rupee was quoted weaker at 181.48/53 to the US dollar in the spot market on Wednesday while bond yields remained unchanged and stocks opened 0.04 percent lower, dealers said.

The rupee closed at 181.45/55 to the greenback on Tuesday.

In the secondary government securities market, bond yields were stable in moderate trade, where the 2024 bond was the most liquid, a dealer said.

Sri Lanka’s debt office is offering 29.5 billion rupees split in to 7.5 billion rupees maturing in 3-months, 7.00 billion rupees maturing in 9-months and 15.00 billion rupees maturing in 12-months in a weekly auction to be held today.

Dealers said they expected the auction rates to fall given liquidity in the overnight money market.

A bond maturing on 15.12.2021 was quoted at 8.60/85 percent on Wednesday, stable from at 8.60/80 percent at Tuesday’s close.

A bond maturing on 01.09.2023 was quoted at 9.15/25 percent, gaining from 9.10/20 percent at yesterday’s close.

A bond maturing on 15.09.2024 was quoted at 9.48/50 percent on Wednesday, gaining from 9.45/50 percent yesterday’s close.

A bond maturing on 15.10.2027 was quoted stable at 9.60/68 from yesterday’s close.

A bond maturing on 15.05.2030 was quoted at 9.85/95 percent, up from 9.65/85 percent.

A bond maturing on 15.09.2034 was quoted 9.65/10.05 percent, gaining from 9.65/95 percent.

In the equities market, Colombo’s All Share Price Index (ASPI) fell 2.07 points to 2,896.99 and the S&P SL20 Index of more liquid stocks 0.25 percent or 6.93 points lower at 2,794.92, withing a hour of trade.

The market turnover was 86 million rupees, while 26 stocks gained, and 33 stocks fell.

Commercial Bank of Ceylon stocks slid 2.60 rupees to 89.40 rupees a share, contributing mostly to ASPI’s fall.

Commercial Leasing and Finance stocks fell 10 cents to 3.20 rupees a share and LOLC Finance PLC down 10 cents to 3.60 rupees a share.
Colombo/Feb12/2020)

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