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4 clusters · 9 sources · 34 days · First seen · Last updated

Sri Lankan rupee exchange rate and bond yield trends

Overview

The Sri Lankan rupee has demonstrated strength against the US dollar. In early August, commercial bank selling rates dropped to approximately Rs 339, with various institutions such as NDB Bank and People’s Bank reporting lower rates.

By mid-August, the rupee continued to strengthen, with commercial bank selling rates falling further to approximately Rs 338. In the spot market, the rupee was quoted at 333.75/90 to the US dollar, an improvement from the previous day’s 334.50/60. During this period, bond yields remained broadly steady and the Colombo Stock Exchange trended upward.

By early September, the rupee's performance showed signs of fluctuation. While the US dollar selling rate remained steady at approximately Rs 332 at major institutions including Seylan Bank, Commercial Bank, and Sampath Bank, some banks reported minor increases in rates. For example, People’s Bank reported a slight rise in the buying rate to Rs 324.11 and the selling rate to Rs 332.14. Concurrently, Treasury bill yields saw a modest decline across all three tenors, with 91-day and 182-day bills easing to 9.06% and the 364-day bill decreasing to 9.89%. This downward trend in borrowing costs coincided with a 4% week-on-week increase in foreign holdings of government securities.

By mid-September, the rupee experienced further depreciation. In the spot market, the rupee concluded trading at 328.70/329.00 against the US dollar, down from the previous day's 328.25/30.00. Commercial bank rates showed varied movement; while Seylan Bank and NDB Bank maintained steady US dollar selling rates at Rs 334.00 and Rs 332.75 respectively, other institutions like People’s Bank, Commercial Bank of Ceylon, and Sampath Bank reported slight increases in both buying and selling rates. In the bond market, yields for bonds maturing in 2027, 2032, 2033, and 2034 saw increases, while the 2029 bond yield remained unchanged.

Entities

Seylan Bank · People’s Bank · NDB Bank · Sri Lankan rupee · Colombo Stock Exchange

Timeline

  1. 3 days ago

    [BUSINESS] 4 sources
    Sri Lankan Rupee declines against US Dollar

    The Sri Lankan Rupee has depreciated against the US Dollar, with spot market rates hitting 328.70/329.00 and commercial banks reporting varying stability and slight increases in exchange rates.

  2. 10 days ago

    [BUSINESS] 4 sources
    Sri Lanka Treasury bill yields decline as Rupee fluctuates

    Sri Lanka's Treasury bill yields declined across all tenors amid robust auction demand, while the Rupee saw slight depreciation against the US Dollar at various commercial banks.

  3. about 1 month ago

    [BUSINESS] 2 sources
    Sri Lankan Rupee strengthens as government reviews airport proposals

    The Sri Lankan Rupee has appreciated against the US Dollar, while the Colombo Stock Exchange trended higher. Additionally, the government is reviewing 19 proposals to operationalize Mattala Rajapaksa Airport.

  4. about 1 month ago

    [BUSINESS] 5 sources
    Sri Lanka's Rupee Strengthens as Dollar Selling Rate Falls to Rs 339

    Sri Lanka's rupee rose as banks cut the dollar selling rate to Rs 339, while 2024 imports fell 13.5% to US$18.6 bn, with the US and China as top suppliers.

Sources

blog.excalidraw.com · en.dailypakistan.com.pk · goodhousekeeping.com · learnandburn.ai · marilenabadolato.it · news18.com · newswire.lk · srilankabiz.lk · srilankachronicle.com

This summary has been updated 2 times: see revision history