The Sri Lankan rupee opened stronger in the spot market on Wednesday, trading at Rs. 299.80/300.10 against the US dollar, an improvement from Tuesday’s closing rate of Rs. 300.75/301.10, according to market dealers.
Government bond yields remained broadly stable. The yield on the bond maturing on October 15, 2028 was flat at 9.75/85 percent. The bond maturing on December 15, 2029 saw a slight dip to 10.17/25 percent, compared to the previous day’s 10.20/25 percent. The bond maturing on March 15, 2031 edged up to 10.67/73 percent, from 10.65/75 percent. Meanwhile, the long-term bond maturing on March 15, 2035 was unchanged at 10.95/11.05 percent.
An auction of Rs. 157.5 billion in Treasury bills was underway, with market participants closely watching the outcome for any potential impact on short-term rates.
On the equities front, the stock market opened slightly higher, posting a 0.09 percent gain, reflecting cautious investor sentiment.