Sri Lanka rupee weaker, bond yields down
ECONOMYNEXT- Sri Lanka’s rupee opened slightly weaker at 181.80/95 to the US dollar and bond yields fell on Friday while stocks were down, dealers said.
The rupee in spot market was around 181.80/95 to the US dollar, down from 181.60/80 to the US dollar.
The liquidity short in money markets was around 96 billion rupees, unchanged from Thursday, with overnight call money rate at around 8.50/75 percent and repo rates around 8.50 percent.
One year bills were quoted at 10.62/70, narrower from 10.60/70.
A bond maturing on 15.12.23 was quoted at 11.15/20 percent Friday morning down from 11.18/23 percent from Thursday’s close.
A bond maturing on 01.08.26 was quoted 11.35/40 percent, down from 11.40/45 percent.
Dealers said bond yields have fallen after the repayment of a billion dollar sovereign bond on January 14, and the International Monetary Fund announcing it will resume talks on the halted bailout program.
The All Share Price Index of the Colombo Stock Exchange was down 0.06 percent or 3.67 points to 5,985.45 in the first half hour of trading.
The more liquid stocks in the S&P SL20 Index was up 0.25 percent or 7.56 points to 3,060.81.
Market turnover was 131.4 million rupees.
John Keells Holdings accounted for around a third of the 2.2 million share trades, with the stock down 50 cents to 154 rupees.
MTD Walkers share fell 70 cents to 16.10 rupees after gaining unusually over the past two days.
The company, responding to a regulatory query on the reason for ‘unusual trading activities’ said the firm has not taken any price sensitive decisions without disclosing to the market. (Colombo/Jan18/2019)