Sri Lanka rupee weakens on low volumes, markets calm after Easter carnage
ECONOMYNEXT – Sri Lanka markets were calm Monday following the carnage on Easter Sunday with the rupee weakening to 174.75/85 rupees against the US dollar and bond yields gaining amidst low trading volumes, dealers said.
Easter Sunday’s bombings at several churches and hotels left 290 dead and over 500 injured.
"However, Sunday’s events could impact foreign direct investment flows," the dealer said.
The currency ended Thursday at 174.50/60 rupees. Markets were closed on Friday.
Yields in the secondary market were seen easing after increasing in early trading on some selling interest, but volumes were low, dealers said.
Yields had gained about 15-60 basis points in early trading.
A bond maturing in 2021 was trading at 10.30/35 percent, up from 10.15/20 percent on Thursday.
A bond maturing in 2024 was at 10.97/11.03 percent, up from the previous closing of 10.70/75 percent.
A bond maturing in 2027 had gone up to 11.50 percent but settled in at around 11.27/35 percent, up from Thursday’s closing of 11.10/15 percent.
The Colombo Stock Exchange was closed. (COLOMBO, 22 April 2019-SB)