Sri Lanka rupee steady, bonds yields lower
ECONOMYNET – Sri Lanka’s rupee was quoted at 179.50/90 levels to the US dollar in the spot market shortly after opening Thursday, and bonds were slightly lower, dealers said.
Sri Lanka is in the grip of a political crisis, with a majority of member in parliament due to bring a motion to cut funds to the office of the Prime Minister following a no-confidence motions, which have not been accepted by the President.
The rupee closed stronger around 179.60/90 to the US dollar Wednesday after intervention dealers after dropping as low as 180.85 to the dollar in intra-day trade, dealers said.
In money markets call money and repo were quoted at 8.90/9.00 percent. The central bank had been injecting cash as low as 8.35 percent to sterilize interventions.
In bond markets a three-year bond maturing on 01.03.2021 was quoted at around 11.55/80 percent on Thursday down from 11.70/80 percent a day earlier.
A five-year bond maturing on 15.07.2023 was quoted around 11.85/12.00 percent, from 11.90/12.00 a day earlier.
An 8-year bond maturing on 15.06.2027 was quoted at around 12.20/35 percent, from yesterday’s closing of 12.25/35 percent. (Colombo/Nov19/2018)