Colombo, Apr 24, 2025 — The Sri Lankan rupee opened weaker on Thursday, trading at 300.05/10 against the US dollar in the spot market, a slight decline from the previous day’s rate of 299.85/95. The dip comes amid a broadly positive market sentiment, helped by recent developments in global trade discussions.
According to market dealers, optimism has grown following the latest statements from the United States regarding tariffs, particularly in relation to China. “Sentiment is broadly positive following the latest comments from the US on tariffs,” one dealer noted. “That was one of the reasons for the recent uncertainty. There’s some interest in 12-month Treasury bills, but not much activity in the shorter 3-month bills.”
In the bond market, yields continued their downward trend. The yield on the government bond maturing on December 15, 2026, dropped to 8.85/95 percent, down from 8.88/9.00 percent the previous day. The bond maturing on September 15, 2027, saw yields ease to 9.50/70 percent from 9.64/70 percent.
Similarly, the bond maturing on October 15, 2028, was quoted at 10.17/20 percent, slightly down from 10.21/24 percent, while the long-term bond maturing on December 15, 2029, moved to 10.55/58 percent from 10.60/64 percent.
Analysts suggest the shift reflects investor confidence in a potential de-escalation of global trade tensions, especially amid speculation around tariff adjustments involving China.