The Sri Lankan rupee closed at Rs. 319.60/320.00 to the US dollar in the spot market on Monday, weaker than Thursday’s spot-next trades at Rs. 319.75/320.00, dealers said. The currency had opened the session quoted at Rs. 319.20/320.00.
Telegraphic transfer rates for the dollar were Rs. 316.30 buying and Rs. 323.30 selling. The pound was quoted at Rs. 428.85/440.29 and the euro at Rs. 368.59/380.13.
Government bond yields edged up on longer tenors. The 01.05.2027 maturity traded at 8.85/95% and the 01.03.2028 at 9.40/60%. The 15.10.2029 firmed to 9.95/10.05% from 9.95/10.00%, while the 01.07.2030 moved to 10.20/25% from 10.17/20%. The 15.12.2032 traded at 10.80/90% and the 01.11.2033 at 10.95/11.05%.
On the Colombo Stock Exchange, the All Share Price Index closed up on banking-counter buying after the sector’s April dip. NDB led the move, gaining 3.34% to Rs. 116, with Colombo Dockyard up 3.71% at Rs. 132.75, Dialog Axiata up 2.29% at Rs. 35.80 and Melstacorp adding 1.09% to Rs. 185. First Capital Chief Research and Strategy Officer Dimantha Mathew said the rally was led by buying interest in banking counters following the sector’s April pullback.
The session followed a weekend in which the Ceylon Petroleum Corporation lifted retail fuel prices for the fourth time in five weeks, with transport and housing now the largest contributors to April inflation under the IMF cost-reflective pricing formula. EconomyNext separately noted that April inflation had reached the 5% mid-point of the central bank’s target.
Sources: EconomyNext (open), EconomyNext (close), EconomyNext (stocks).
