Currency slips against the US dollar while government bond yields edge higher in early trading.
Sri Lanka Rupee Dips Against the Dollar
The Sri Lanka rupee opened weaker on Friday, trading at 299.35/40 against the US dollar in the spot market, down from Thursday’s close of 299.00/15, according to market dealers. This slight depreciation reflects ongoing pressures in the currency market amid broader economic uncertainties.
Government Bond Yields Climb
Government bond yields showed an upward trend in early trading. A bond maturing on July 1, 2028, was quoted at 8.80/85 percent. Meanwhile, a September 15, 2029 bond yield increased to 9.43/48 percent from 9.40/47 percent previously. Similarly, the yield on a bond maturing December 15, 2029, rose to 9.50/52 percent from 9.44/50 percent. The December 15, 2032 bond yield remained steady at 10.30/35 percent.
Stock Market Reacts Negatively
Stocks opened lower amid the cautious market sentiment. Investors remain watchful as currency depreciation and rising bond yields contribute to uncertainty in Sri Lanka’s financial markets.