Sri Lanka’s rupee opens weaker, bond yields steady

ECONOMYNEXT – Sri Lanka’s rupee opened weaker at 176.15/25 rupees to the US dollar in the spot market Monday, while bonds were steady and stocks opened 0.11 percent lower, market participants said.

The rupee closed at 176.10/20 against the greenback on Friday.

In equities, Colombo’s All Share Price Index (ASPI) was 6.16 points down at 5,509.65 and the S&P SL20 of more liquid stocks were 0.13 percent or 3.27 points lower at 2,591.17, in the first half-hour of trading.

Market turnover was 18.4 million rupees with 20 stocks gaining and 24 declining.

LOLC Holdings PLC gained 80 cents to 94.40 rupees a share, LOLC Finance PLC down 10 cents to 3.80 rupees a share and Commercial Banka of Ceylon PLC 40 cents down at 96.50 rupees a share, contributing to the ASPI’s decline.

In the secondary market, bond yields were steady in an active market, dealers said.

Activity centered on the short tenor of the yield curve with maturities up to 2024 being the most liquid, a dealer said.

A bond maturing on 15.10.2021 was quoted at 9.05/10 percent, gaining from 9.03/08 percent.

A bond maturing on 15.03.2023 was quoted flat at 9.60/65 percent.

A bond maturing on 15.6.2024 was quoted at 9.83/88 percent, up from 9.82/84 percent.





A bond maturing on 01.08.2026 was quoted at 10.05/15 percent, steady from 10.05/12 percent.

A bond maturing on 15.01.2027 was quoted at 10.12/18 percent, down from 10.15/18 percent.

A 10-year bond maturing on 01.05.2029 was quoted at 10.25/32 percent, stable from 10.25/30 percent.

(COLOMBO, 08 July 2019)

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