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Sri Lanka rupee ends inactive in forex market

Sri Lanka’s rupee remains inactive in the forex market on Tuesday while some short-maturity bond yields were steady, market participants said.

Sri Lanka’s interbank forex markets are not allowed to deal above 200 to the US dollar and import customers are not allowed to be given dollars above 203 to the US dollar in curbs announced after money printing triggered forex shortages.

The central bank’s indicative spot rate was 199.9076 on July 27. The buying rate for telegraphic transfers was 197.8023 and the selling rate was at 202.8977 on Thursday.

In bond markets, short tenor gilt yields were steady while the long tenors remained unchanged.

A 2-year bond maturing on 15.12.2022 closed at 5.75/85 per cent on Tuesday, up from 5.68/78 on Tuesday.

A bond maturing on 15.11.2023 closed at 6.35/40 per cent on Tuesday down from 6.42/50 per cent at Monday’s closing.

A bond maturing on 1.12.2024 closed at 6.80/88 per cent on Tuesday steady from 6.80/90 on Monday.

A bond maturing on 01.02.2026 closed at 7.35/50 per cent unchanged on Tuesday.

A bond maturing on 15.08.2027 unchanged at 7.55/80 per cent from the last closing.

A 10-year bond maturing on 15.05.2030 closed at 8.25/85 per cent unchanged from the last closing.


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