Sri Lanka rupee strengthens after forex surrender suspension
ECONOMYNEXT – Sri Lanka’s rupee closed slightly firmer at 198.50/199.00 levels to the US dollar in the one week forward market on Thursday after hitting a new low at 202/303 levels on Wednesday dealers said while the bond yields remained unchanged.
The rupee last closed in the one-week forward market at 202/303 to the US dollar on Wednesday.
Sri Lanka has temporarily lifted a requirement imposed on banks to surrender 10 percent of remittances converted to rupees and 12.5 percent of export receipts to the central bank, boosting dollar availability.
In the secondary market bond yields remained unchanged on dull market trade, dealers said.
A bond maturing on 15.12.2022 closed at 5.85/90 per cent on Thursday, up from 5.80/90 per cent on the previous day.
A bond maturing on 15.11.2023 closed flat at 6.25/35 per cent on Thursday from Wednesday.
A bond maturing on 01.12.2024 closed at 6.68/78 per cent on Thursday, up from 6.55/65 per cent on Wednesday.
A bond maturing on 01.05.2025 closed at 6.75/90 per cent, down from 6.80/7.00 per cent.
A bond maturing on 15.02.2026 closed at 7.05/10 per cent, down from 7.10/20 per cent.
A bond maturing on 15.08.2027 closed at 7.45/55 per cent, down from 7.50/60 per cent on the previous day.
A bond maturing on 01.05.2029 closed at 8.10/30 per cent, up from 8.00/30 per cent on Wednesday.
A bond maturing on 15.05.2030 closed at 8.00/30 per cent, from 8.15/55 per cent. (Colombo/March18/2021)