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Wednesday June 29th, 2022

Sri Lanka rupee slightly moves up against TT dollar

ECONOMYNEXT – Sri Lanka’s commercial banks quoted the rupee at 366 against telegraphic transfers on Wednesday (15) while the central bank interbank spot trade was at 359.85 under a daily guidance rate, up changed from Monday’s 359.83.

The commercial banks’ rupee quote against telegraphic transfers was at 367 against the US dollar on June 13.

The central bank guidance margin is set at plus 1.00 or minus 4.00 rupees.

The central bank stopped quoting day rates on January 23 when the rupee was floated with an interest rate correction after the soft peg collapsed, amid a war. In 2021 and the central bank also started enforcing a rate incompatible with the policy rate at around 203 to the US dollar.

The secondary market remains dull on Wednesday ahead of the weekly T-bills auction, dealers said.

Sri Lank’s debt office of offering 98 billion rupees to be sold in an auction held on Wednesday.

The bills will be spilt into 45 billion rupees maturing in 3-months, 25 billion maturing in 6-months and 28 billion rupees maturing in 12-months.

There were only a handful of bond maturities active during the day.

A bond maturing on 01.06.2025 was quoted around 20.20/50 percent on Wednesday, up from 20.15/30 percent at it’s last close on Monday.

A bond maturing on 15.01.2028 was quoted at around 20.15/40 percent, up from 20.10/20 percent at its last close on Monday.
(Colombo/June15/2022)

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