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Daily report for the 21st November 2024 – Courtesy Wealth Trust Securities Ltd
- Secondary Bond Market Activity Slows Down; Yields Hold Broadly Steady
- Rupee closes broadly steady
The secondary bond market yesterday saw activity and transaction volumes moderate with yields holding broadly steady and consolidating at the existing levels. Sparse trades were observed limited to select maturities.
Accordingly, the shorter tenor 01.06.26 and 15.12.26 maturities were seen trading at the rates of 10.00% and 10.20%-10.25%. The 01.05.27 and 15.09.27 maturities were seen trading within the ranges of 10.80%-10.82% and 10.85%-10.93% respectively. The 01.05.28 and 15.12.28 maturities were seen trading at the rates of 11.15% and 11.23%-11.25% respectively. In addition, the 01.12.31 maturity transacted within the rate of 11.65%-11.70%.
The total secondary market Treasury bond/bill transacted volume for 20th November was Rs. 49.60 billion.
In money markets, the weighted average rates on overnight call money and Repo stood at 8.58% and 8.64% respectively. The DOD (Domestic Operations Department) of Central Bank injected liquidity by way of an overnight and reverse repo auction for Rs. 39.73 billion at the weighted average rate of 8.54%.
The net liquidity surplus stood at Rs. 143.37 billion yesterday. An amount of Rs. 3.45 billion was withdrawn from the Central Banks SLFR (Standing Lending Facility Rate) of 9.25%, while an amount of Rs. 186.55 billion was deposited at Central Banks SDFR (Standard Deposit Facility Rate) of 8.25%.
Forex Market
In the Forex market, the USD/LKR rate on spot contracts closed broadly steady at Rs. 290.95/291.05 yesterday.
The total USD/LKR traded volume for 20th November was US $ 121.40 million.
(References: Central Bank of Sri Lanka, Bloomberg E-Bond trading platform, Money broking companies)