The Sri Lankan rupee closed at 330.70/331.00 to the US dollar on Tuesday, down from 329.15/35 the previous session, with government bond yields rising across the curve, Hiru News and EconomyNext reported.
That is a fall of 1.55 rupees in a single session — about 0.47 percent, one of the sharper one-day moves of recent weeks.
Yields rose on Tuesday
Every tenor dealers quoted moved higher:
| Maturity | Tuesday | Previous |
|---|---|---|
| 15.09.2027 | 9.90/10.20% | 9.80/9.95% |
| 15.12.2029 | 10.92/11.00% | 10.75/10.90% |
| 01.08.2030 | 11.35/40% | 11.10/15% |
| 15.10.2030 | 11.40/45% | 11.15/35% |
| 15.12.2032 | 11.80/85% | 11.60/65% |
| 01.11.2033 | 11.90/12.00% | 11.75/85% |
| 15.10.2034 | 12.05/10% | 11.93/12.00% |
The 15.03.2028 bond was quoted at 10.35/45 percent and the 01.06.2033 at 11.85/95 percent, up from 11.80/90.
The largest single move was at the 2030 tenors, where the October 2030 offer rose 25 basis points and the August 2030 bid 25 basis points.
Wednesday morning went the other way
By 9.33 a.m. on Wednesday, EconomyNext reported yields steady to lower on selected tenors, with an auction of Rs. 70 billion in Treasury bills under way.
The 01.08.2030 bond had fallen back to 11.25/35 percent from 11.35/40, the 15.10.2030 to 11.35/45 from 11.40/45, the 15.12.2032 to 11.75/85 from 11.80/85 and the 15.10.2034 to 11.95/12.00 from 12.05/10. Two tenors went the other way, with the 01.06.2033 quoted at 11.85/12.00 percent, up from 11.85/95.
One point worth reading carefully. EconomyNext describes the rupee on Wednesday morning as “weaker” at 330.70/331.20 against Tuesday’s 330.70/331.00. The bid is unchanged at 330.70 — what moved is the offer, from 331.00 to 331.20. That is a widening of the quoted spread from 30 to 50 cents, not a further fall in the currency’s bid side. Spreads widen when dealers are less certain of demand, so the signal is about market conditions rather than a second day of depreciation.
Note on the Hiru version
Hiru’s account matches EconomyNext figure for figure, and appears to be carried from it. One tenor in the Hiru text reads “the November 1, 203 bond” — a truncation of 01.11.2033, which EconomyNext gives in full. The rates quoted for it are identical in both.
Not reported
Neither outlet gives a reason for Tuesday’s move — no central bank intervention, importer demand or outflow figure is cited. Neither reports the Central Bank’s daily reference rate, foreign holdings of rupee bonds, or the result of the Wednesday bill auction, which was still running at the time of the report. Neither says whether the Central Bank was buying or selling dollars in the market.
