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Sri Lanka rupee quoted weaker, gilt yields steady

ECONOMYNEXT – Sri Lanka rupee was quoted weaker at 184.50/60 to the US dollar in the spot market on Tuesday while bond yields remained unchanged in dull market trade, dealers said.

The rupee closed at 184.45/55 to the US dollar on Monday.

Sri Lanka’s imports have picked up in September with imports rising to 1.52 billion dollars along with exports and private credit.

Imports were still down by around 200 million US dollars from the 1,711 million dollars recorded in 2019.

In September 2020 exports were 1,000 million dollars up from 954 million last year and workers’ remittances have also picked by around 200 million dollars though 205 million dollars in tourism revenues were lost, central bank data showed.

In the secondary securities market, bond yields were marginally up in dull market trade, dealers said.

Sri Lanka’s debt office is offering 75 billion treasury bonds to be auctioned on November 12.

A 2-year bond maturing on 15.12.2022 was quoted at 5.60/70 per cent on Tuesday, steady from 5.60/68 per cent at Monday’s closing.

A bond maturing on 15.01.2023 was quoted flat at 5.65/75 per cent from Monday’s end.

A bond maturing on 15.09.2024 was quoted at 6.20/30 per cent, up from 6.18/25 per cent at the previous day’s end.

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A bond maturing on 01.05.2025 was quoted at 6.40/50 per cent, up from 6.35/45 per cent at the last closing.

A bond maturing on 01.02.2026 was quoted at 6.60/70 per cent, marginally up from 6.58/62 per cent at previous day’s end.

A bond maturing on 15.08.2027 was quoted at 6.95/07 per cent, up from 6.88/95 per cent at Monday’s end.

A bond maturing on 01.07.2028 was quoted at 7.10/20 per cent, up from 7.08/18 per cent at the previous day’s closing. (Colombo/Nov10/2020)

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