FT
Saturday Nov 09, 2024
Wednesday, 3 December 2014 00:00 - - {{hitsCtrl.values.hits}}
Rupee forwards end tad up on exporter, bank dollar salesReuters: Rupee forwards ended slightly firmer on Tuesday as dollar sales by exporters and banks outpaced importer dollar demand, dealers said. The spot currency and three-day forwards, or spot-next, were not traded after the Central Bank capped the currency at predetermined levels to prevent volatility. Central Bank officials were not available for comment. Dealers said four-day forwards, or spot-next-next, were actively traded, ending at 131.72/77 per dollar compared to Monday’s close of 131.80/90. “There were exporter (dollar) sales and bank (dollar) selling,” a currency dealer said. Overseas investors bought a net Rs. 456.7 million worth of government securities during the week ended 26 November. They sold a net Rs. 38.6 billion ($ 294.66 million) in the nine weeks through 26 November, data from the Central Bank showed. |
Secondary market bond yields increase ahead of Primary auctionBy Wealth Trust Securities Secondary market bond yields were seen increasing yesterday in thin trade ahead of the weekly Treasury bill auction due today. At today’s auction, a total amount of Rs 10 billion will be on offer with Rs 3.0 billion on the 182 day bill and Rs 7.0 billion on the 364 day bill. At last week’s auction, the weighted averages on the 182 day bill and the 364 day bill remained unchanged at 5.84% and 6.00% respectively, while the 91 day bill was not on offer. In secondary bond markets, selling interest saw yields on the eight year maturity of 01.07.2022 increase to a daily high of 8.30% against its previous day’s closing level of 8.15/25, the two four year maturities (i.e. 01.04.2018 and 15.08.2018) to highs of 7.20% and 7.30% respectively against its previous day’s closing levels of 7.15/17 and 7.27/30 and the three year maturity of 15.05.2017 to a high of 7.00% against 6.95/02. In addition, the nine year maturity of 01.01.2024 was seen quoted high, within the range of 8.30% to 8.50% as well. In money markets, the Open Market Operations (OMO) department of Central Bank was seen draining an amount of Rs 1.99 billion by way of a three day term repo auction at a weighted average of 5.97% as surplus liquidity stood at Rs 36.14 billion yesterday. The weighted averages on overnight call money and repo rates remained mostly unchanged at 6.06% and 5.83% respectively. Rupee remains stable In Forex markets, the dollar/rupee (USD/LKR) rate on spot next-next contracts closed the day mostly unchanged at Rs 131.73/75 yesterday. The total USD/LKR traded volume for the 01st December 2014 was at US $ 42.99 million. Some of the forward dollar rates that prevailed in the market were 1 Month - 132.22; 3 Months - 133.20 and 6 Months - 134.38. |