Sri Lanka rupee steady, stocks open lower

ECONOMYNEXT – Sri Lanka’s markets got off to a slow start Monday after a three day long weekend, with rupee steady and stocks opening lower dealers and brokers said.

Bond markets were also dull, with sporadic quotes, dealer said.

The rupee was quoted around 159.55/85 to the US dollars in the spot market in the first hour of trading, after opening wide at around 159.40/90 rupees.

The rupee touched 160 to the US dollar Friday, but rebounded on exporter sales. The US Fed hiked rates which tends to strengthen the dollar, compared to currencies that are in free float.

A bond maturing on 15.03.28 was quoted at 10.38/48 Monday against 10.42/45 percent closing levels on Friday.

Stock were marginally weaker, with the Colombo All Share Index down 5.39 points (0.09 percent) to 6,325 points in the first 50 minutes of trading. (Colombo/June18/2018)

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