Thu, 24 Jun 2021 Today's Paper

Rupee little changed; yields fall on hike in bond borrowing limit

28 April 2017 09:53 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS - The Sri Lankan rupee closed steady yestreday in dull trade, but local bond yields fell after the government approved a proposal to double the borrowing limit on Sri Lanka Development Bonds to US$3 billion this year, dealers said.
The government said on Wednesday it approved the proposal with an aim to increase dollar liquidity. Local t-bill yields slipped 9 basis points at a weekly auction soon after the government announcement.
Rupee forwards were active, with two-week forwards closing at 153.15/30 per dollar, nearly unchanged from Wednesday’s close of 153.10/30.
“There were a lot of activities in the bond market and the yields came down by 25 basis points after the announcement on the SLDB,” a currency dealer said, asking not to be named.

The broader market was also waiting for approval from the International Monetary Fund on disbursement of the third tranche of a US$1.5 billion loan and through a proposed sovereign bond issue in May, dealers said. Sri Lanka has seen a rise in foreign inflows into equities and government securities since early this month, with foreign investors buying shares worth a net Rs.13.1 billion in 25 consecutive sessions through yesterday.
Foreign investors have also net bought government securities worth Rs.4.17 billion in the week ended April 19, although they have net sold Rs.58 billion worth of government bonds so far this year.

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment


SLPP eats humble pie over fuel price hike statement

The statement put out by SLPP (Sri Lanka Podujana Peramuna) General Secretar

GSP+: Isn’t there a way out?

The European Parliament’s resolution on Sri Lanka on June 10 was the second

Is Litro Gas above the regulator?

After an in-house battle among members of the top management of the Consumer

Statistical blunders expose administrative weaknesses

Information helps save lives and during a pandemic a free-flow of vital, accu



See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.