Sri Lanka’s rupee opens weaker, bond yields steady

ECONOMYNEXT – Sri Lanka’s rupee opened weaker at 179.85/90 against the US dollar on Monday, while bond yields were steady and stocks opened 0.08 percent higher, dealers said.

The rupee closed at 179.70/180.00 against the greenback on Friday.

In equities, Colombo’s All Share Price Index (ASPI) gained 4.53 points to 5,903.00 and the S&P SL20 index of more liquid stocks gained 0.57 percent or 16.54 points to 2,919.34, in the first hour of trade.

Market turnover was 48.6 million rupees with 23 stocks gaining and 26 falling.

Sri Lanka Telecom gained 80 cents to 29.50 rupees a share, Sampath Bank was up 2.00 rupees to 168.30 rupees a share and Commercial Leasing and Finance gained 10 cents to 3.10 rupees a share.
    
In the secondary bond market, gilt yields remained unchanged in dull trading.
        
A bond maturing on 15.10.2021 was quoted at 8.70/80 percent on Monday, steady from 8.70/77 percent at Friday’s close.
    
A bond maturing on 15.03.2023 was quoted at 9.52/60 percent, slightly up from 9.50/55 percent.
    
A bond maturing on 15.06.2024 was quoted at 9.78/82 percent, down from 9.80/82 percent.
    
A bond maturing on 01.08.2026 was quoted unchanged at 9.90/10.00 percent.
    
A bond maturing on 15.01.2027 was quoted at 9.95/10.05 percent, falling from 9.98/10.02 percent.
    
A bond maturing on 01.05.2028 was quoted at 10.10/20 percent, gaining from 10.00/15 percent.
    
A 20-year bond maturing on 15.08.2039 was quoted at 10.10/30 percent, up from 10.05/25 percent.
(COLOMBO, 26 August, 2019)