Sri Lanka rupee recovers, bond yields open lower

Sri Lanka’s rupee was quoted at 313.00/50 to the US dollar in the spot market Wednesday, recovering from 314.20/40 the previous day, dealers said, while bond yields opened lower as oil prices dropped below 95 dollars a barrel on US President Donald Trump’s claim of pursuing talks to end hostilities on Iran.

Sri Lanka’s Central Bank kept its Overnight Policy Rate (OPR) unchanged at the current level of 7.75 percent, citing it considered evolving developments and outlook on the domestic and global fronts, with particular attention to uncertainties arising from the conflict in West Asia.

A bond maturing on 15.12.2028 was quoted at 9.35/45 percent.

A bond maturing on 15.12.2029 was quoted at 9.65/75 percent, down from 9.85/95 percent.

A bond maturing on 15.03.2031 was quoted at 9.80/90 percent.

A bond maturing on 15.12.2032 was quoted at 10.40/50 percent.

A bond maturing on 01.06.2033 closed at 10.65/75 percent, down from 10.85/95 percent.

An auction of 80,000 million rupees Treasury bills was ongoing.

The telegraphic transfer rates for the American dollar were 310.7500 buying, 310.7500 selling; the British pound was 415.8318 buying, and 427.1352 selling, and the euro was 358.4885 buying, 369.9079 selling.

On the Colombo Stock Exchange the All Share Price Index was trading down 2.90 percent, 611.58 points, at 21,682.81; and the S&P SL20 was down 3.39 percent, or 197.18 points, at 6,106.41.

source: Economy Next