Sri Lanka rupee weaker at close, gilts ease

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ECONOMYNEXT- Sri Lanka’s rupee closed weaker at 181.50/60 to the US dollar in the spot market on Monday, while gilt yields eased, dealers said.

The rupee closed at 181.30/40 to the greenback on last Thursday, after which the market opened on Monday following the long weekend.

Liquidity in the overnight money market was 33.88 billion rupees, declining from 38.76 billion rupees on Thursday.

Central Bank injected 12.88 billion rupees at 7.46 percent in an overnight reverse repo auction.

Banks deposited 25.31 billion rupees in the Central Bank excess liquidity window.

In the secondary bond market, yields eased to a close in dull trading amid the bond auction, dealers said.

Sri Lanka’s debt office sold three year bonds at a weighted average yield rate of 9.39 percent and ten year bonds at 9.99 percent on Monday, easing from previous auctions.

The 01.09.2023 bond with a coupon rate of 9 percent was auctioned higher than the closely maturing bond 15.07.2023 which had closed at 9.25/30 percent on Thursday and was trading at 9.20/25 percent ahead of the auction on Monday.

A bond maturing on 15.12.2021 closed at 8.65/80 percent on Monday, falling from 8.70/85 percent on Thursday’s close.

A new bond maturing on 01.09.2023 closed at 9.35/43 percent, declining from its auctioned price.

A bond maturing on 15.09.2024 closed at 9.57/61 percent sliding from 9.62/65 percent on Thursday.

A bond maturing on 15.10.2027 closed at 9.77/85 percent, down from 9.80/88 percent from its last closing.

A bond maturing on 15.05.2030 closed at 9.90/10.00 percent today, falling from 10.00/10.15 percent.

A bond maturing on 15.09.2034 closed at 10.05/15 percent on Monday, easing from 10.10/10.30 percent on Thursday’s close.


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