Sri Lanka’s rupee ends stronger, bond yields gain

ECONOMYNEXT – Sri Lanka’s rupee closed firmer at 175.65/70 rupees against the US dollar in the spot market on Wednesday while bond yields gained in an active market, brokers and dealers said.

Sri Lanka’s rupee closed at 175.70/75 rupees against greenback on Monday.

In the bond market, yields were marginally up in an active market.

Dealers said liquidity was seen especially on shorter maturities such as the 2021 and 2023, dealers said.

The debt office offered 23.5 billion rupees in bills, split into 3 billion rupees in 3-month bills, 4 billion rupees in 6-months bills and 16.5 billion rupees in 12-months maturities.

Dealers said the auction rates fell below weighted average rates after 3-years.

In the secondary market, a bond maturing on 15.10.2021 closed at 8.80/88 percent on Wednesday, down from 8.70/80 percent at Monday’s close.

A bond maturing on 15.03.2023 closed at 9.47/50 percent, down from 9.50/60 percent.

A bond maturing on 05.06.2024 closed at 9.75/78 percent, up from 9.72/78 percent.

A bond maturing on 01.08.2026 closedflat at 9.90/10.00 percent.

A bond maturing on 15.01.2027 closed at 10.00/10.07 percent, gaining from 9.97/05 percent.

A 10-year bond maturing on 01.05.2029 closed at 10.05/15 percent, steady from 10.05/12 percent.
(COLOMBO, 17 July 2019)