Sri Lanka rupee strong, bonds flat

Apr 08, 2013 (LBO) – Sri Lanka’s rupee strengthened to one year highs of as much as 125.20/30 in early trade Monday before weakening to 125.50/60 level amid seasonal conversions and weak demand, dealers said. A 5-year bond maturing on 01 April 2018 was quoted at 11.37/42 percent, dealers said.

In April exporters covert dollars to pay salary advances for the upcoming traditional New Year and dealers said remittances from expatriate workers was also strong.

The rupee was last seen at 125.25/35 levels around April 2012, dealers said.

Bond markets were quiet with three year bonds maturing on 01.04,2016 quoted at 11.15/25 percent and the 4-year bond maturing on 15 July 2017 also quoted on the same levels, dealers said.