Sri Lanka rupee ends weaker, gilt yields remained unchanged


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ECONOMYNEXT- Sri Lanka’s rupee ends weaker at 181.45/50 to the US dollar on the spot market on Wednesday, while bond yields remained flat, dealers and brokers said.

The rupee closed at 181.30/45 to the greenback on Tuesday.

Liquidity in the overnight money market was 31.02 billion rupees, up from 28.56 billion rupees at Tuesday’s close.

Central Bank injected 5.00 billion rupees at 7.54 percent in an overnight reverse repo auction.

Banks deposited 36.02 billion rupees through Central Bank’s excess liquidity window.

In a term reverse repo auction, Central bank injected 20 billion rupees at 7.533 percent maturing in 14-days.

In the secondary bond market, yields broadly remained flat in active trading, dealers said.

FirstCapital said its report that liquidity centred on 2024 maturities with both 15.06.24 and 15.09.24 trading at 9.50 percent with buying interest stemming from both local and foreign counterparties.

Sri Lanka’s debt office sold 25,500 million worth of treasury bills split into 1,500 million in three months bills, 7,500 million in six months bills and 16,500 million rupees in one-year bills.

The 12-month bills were sold at 8.61 percent, rising from 8.58 percent a week earlier.

The debt office said it sold 16.5 billion rupees in 12-month bills, the full amount announced, after receiving 34.6 billion rupees in bids.

Six-month bills were oversold, with issuances of 7.95 billion rupees against a planned 7.5 billion rupees, with 22.8 billion rupees in bids.

In three month bills, 1.05 billion rupees were sold against a planned 1.5 billion rupees, with 5.09 billion rupees in bids being received.

The debt office sold 25.5 billion rupees bills it had planned to raise after receiving 62.54 billion rupees in bids.

The 12-month bond maturing on 15.12.2021 closed at 8.65/85 percent on Wednesday, gaining from 8.60/80 percent at Tuesday’s close.

A bond maturing on 01.09.2023 closed at 9.31/35 percent, marginally up from 9.30/34 percent from its last closing yesterday.

A bond maturing on 15.09.2024 closed at flat at 9.50/55 percent from yesterday’s closing.

A bond maturing on 15.10.2027 closed at 9.70/78 percent today, stable from 9.70/80 percent on Tuesday.

A bond maturing on 15.05.2030 closed at 9.85/95 percent easing from 9.88/98 percent on Tuesday.

A bond maturing on 15.09.2034 closed 9.92/05 percent, falling 10.00/08 percent from its previous close.
(Colombo/Jan22/2020)

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