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Sri Lanka’s rupee opens firmer, bond yields ease

ECONOMYNEXT – Sri Lanka’s rupee opened firmer at 175.40/60 rupees to the US dollar in the spot market Wednesday, while bond yields marginally down and stocks opened 0.05 percent higher, market participants said.

The rupee closed at 175.65/75 against the greenback on Tuesday.
In equities, Colombo’s All Share Price Index (ASPI) gained 2.67 points to 5,517.07 and the S&P SL20 of more liquid stocks were up 0.33 percent or 8.60 points to 2,609.34 in the first half-hour of trade.
Market turnover was 111 million rupees with 29 stocks gaining and 17 declining.
Softlogic Life Insurance was up 2.90 rupees to 37.70 rupees a share, Bukit Darah gained 10.00 rupees to 220.00 rupees a share and Sri Lanka Telecom was 30 cents up at 23.70 rupees a share, contributing to ASPI gain.
In the government securities market, bond yields eased on thin volumes, dealers said.
Sri Lanka’s debt office is offering a 22.5 billion rupees auction today, split into 3 billion rupees in 3-month bills, 5 billion rupees in 6-month maturity and 14.5 billion rupees in 12-month bills.
Dealers are expecting the auction rates to ease.
A bond maturing on 15.10.2021 was quoted at 9.00/03 percent on Wednesday, easing from 9.05/10 percent at Tuesday’s close.
A bond maturing on 15.03.2023 was quoted at 9.55/60 percent, down from 9.58/62 percent.
A bond maturing on 15.6.2024 was quoted at 9.80/83 percent, falling from 9.82/84 percent.
A bond maturing on 01.08.2026 was quoted at 10.05/10 percent, steady from 10.05/12 percent.
A bond maturing on 15.01.2027 was quoted unchanged from 10.12/17 percent.
A 10-year bond maturing on 01.05.2029 was quoted at 10.20/25 percent, down from 10.23/25 percent.
(COLOMBO, 10 July, 2019)

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