Secondary market rates steady as activity dries up

Wednesday, 8 October 2014 00:31 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities A shortened trading week, in which the weekly Treasury bill auction was cancelled, saw activity dry up in secondary bond markets yesterday. A limited amount of activity was witnessed on the two 2018 maturities (i.e. 1 April 2018 and 15 August 2018) within the range of 6.65% to 6.70% and 6.72% to 6.74% respectively, the 1 July 2019 at 6.75%, the 1 July 2022 at 7.40% and the 1 January 2024 within 7.70% to 7.72%. Meanwhile in money markets, overnight call money and repo rates decreased marginally to average 6.12% and 6.14% as no auctions under Central Bank’s Open Market Operations (OMO) were conducted yesterday. Surplus liquidity in money markets stood at Rs. 18.91 b. Rupee loses ground marginally Meanwhile, in Forex markets yesterday, the rupee lost ground marginally to an intraday low of Rs. 130.33 against its previous day’s closing of 130.30/32 on the back of importer demand. The total USD/LKR traded volume for 3 October was at $ 86.50 million. Some of the forward dollar rates that prevailed in the market were: one month – 130.85; three months – 131.45; and six months – 132.40.

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