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Sri Lanka’s rupee ends around 194.50/195.00, gilt yields up

ECONOMYNEXT – Sri Lanka’s rupee closed around 194.50/195.00 in the spot-next market on Monday while bond yields slightly up ahead of the first policy review on Tuesday, dealers said.

Rupee last closed around 195.20/195.70 in the one-week forward market on Friday against the greenback.

The central bank’s indicative spot rate was 192.7447 on January 18, up from 191.0367 on January 15 on Friday.

The commercial bank average buying rate for dollar telegraphic transfers was 190.7700/196.0500 on January 15, steady from 190.3300/194.0700 from on January 13.

Indicative US dollar spot quoted at the moment around 192.7447 rupees.

Sri Lanka will have the first-policy review meeting of the year tomorrow, Tuesday.

Market analysts are expecting Central Bank to keep the rates unchanged as the lower interest rates are seen to reap benefits.

In bond markets, gilt yields slightly up but the overall market steady, dealers said.

The secondary market yield curve remained broadly unchanged while overall market witnessed low volumes. Slight selling pressure was seen on the shorter end of the curve, FirstCapit

A 2-year bond maturing on 15.12.2022 closed at 5.40/45 per cent on Monday, up from 5.35/42 per cent at Friday’s end.

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A bond maturing on 15.01.2023 closed at 5.40/50 per cent on Monday, steady from 5.40/45 per cent at the last closing.

A bond maturing on 15.09.2024 closed at 6.20/25 per cent on Monday, down from 6.22/28 per cent.

A bond maturing on 01.05.2025 closed at 6.40/45 per cent, climbing from 6.32/42 per cent at Friday’s end.

A bond maturing on 01.02.2026 closed at 6.55/65 per cent, up from 6.53/60 per cent at the last closing.

A bond maturing on 15.08.2027 closed at 7.05/15 per cent, steady from 7.05/13 per cent at the last closing.

A bond maturing on 01.07.2028 closed flat at 7.20/40 per cent.

A 10-year bond maturing on 15.05.2030 closed unchanged at 7.60/75 per cent on Monday from Friday’s end. (Colombo/Jan18/2021)

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