On Monday, Sri Lanka’s rupee was quoted at 309.85/92 against the US dollar in the spot market, marking a slight depreciation from Friday’s rate of 309.75/85, according to dealers. Despite this weakening, bond yields remained relatively steady.
Last year, the rupee had weakened from 293.25/75 to the US dollar, despite experiencing record current account surpluses and improvements in the budget. These factors typically challenge the usual explanations macro-economists offer for depreciating currencies.
In the bond market, the yield on a bond maturing on October 15, 2028, was quoted at 9.15/24 percent. Meanwhile, a bond maturing on October 15, 2029, was quoted at 9.65/75 percent. The yield on a bond maturing on July 1, 2030, was slightly up, quoted at 9.75/85 percent compared to the previous 9.75/80 percent. Additionally, a bond maturing on November 1, 2033, saw its yield rise to 10.50/55 percent from 10.45/55 percent.
(Colombo/Jan 5/2026)
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