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Wednesday May 12th, 2021
Bonds & Forex

Sri Lanka rupee trades at 199.75 to spot dollar in moral suasion

ECONOMYNEXT- Sri Lanka rupee was traded at 199.75 to the US dollar in a forex market on Friday which saw sporadic activity amid moral suasion while, bond yields were remained flat, dealers said.

Sri Lankan banks chief executives were summoned to a meeting with authorities on Friday after the repeated summoning of Treasuries over April in a bid to stabilize the rupee which had been hit by money printing.

Rupee traded at 199.75 to the US dollar simultaneously in the spot and forward markets dealers on Thursday.

Yesterday, forward and spot traded at the same rate despite wide interest rate differentials.

Sri Lanka’s rupee bond yields have fallen below that of the dollar despite the currency depreciating.

In the secondary market, bond yields remained unchanged, dealers said.

Bonds maturing on 15.12.2022 closed at 5.95/6.05 per cent on Friday, steady from 5.95/6.00 per cent on Thursday.

Bonds maturing on 15.11.2023 closed at 6.50/60 per cent on Friday, down from 6.53/60 per cent on Thursday.

Bonds maturing on 15.12.2024 closed flat at 6.80/95 per cent on Friday from Thursday’s close.

A bond maturing on 01.05.2025 closed flat at 7.05/25 per cent on Friday from Thursday.

A bond maturing on 01.02.2026 closed at 7.35/55 per cent on Friday, down from 7.40/50 per cent on Thursday.

A bond maturing on 15.10.2027 closed at 7.75/95 per cent on Friday, steady 7.75/90 per cent on Thursday.
(Colombo/April30/2021)

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