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Sunday Sep 22, 2024
Monday, 9 February 2015 00:00 - - {{hitsCtrl.values.hits}}
Activity during the shortened trading week continued to surround the two year maturity on 15 May 2017 within a weekly low and high of 6.95% to 7.07%, the two three year maturities (i.e. 1 April 2018 and 15 August 2018) within 7.10% to 7.17% and 7.15% to 7.20% respectively and the seven year maturity of 1 July 2022 within 7.68% to 7.72%.
This was amidst a week at where the weighted averages at the weekly bill auction, saw the 91 day maturity increase by two basis points to 5.82% while the 182 and 364 day maturities remained unchanged for a third consecutive week at 5.90% and 6.05%.
In money markets, due to most commercial banks using the opting of accessing the standing deposit facility of 6.50% during the first three working days of a calendar month, overnight call money and repo rates were seen increasing marginally during the week to average 6.04% and 5.82% respectively in comparison to its previous weeks averages of 5.85% and 5.20%.
The Open Market Operations (OMO) Department of Central Bank continued to mop up liquidity during the week by way of two term repo auctions at weighted averages of 5.90% for 07 days and 5.98% for 77 days, as well as by way of outright sales of Treasury bills at weighted averages of 5.69% and 5.75% for maturities of 14 and 56 days.
Rupee gains ground during the week
The active one week forward dollar/rupee rate was seen closing the week stronger at Rs. 133.20/30 in comparison to its previous weeks closing of Rs. 133.50/55 on the back of export conversions while spot next contracts were seen closing at levels of 132.85/10.
The daily USD/LKR average traded volume for the first two trading days of the week stood at $ 36.50 million.
Some of the forward dollar rates that prevailed in the market were one month – 133.55; three months – 134.85 and six months – 136.20.
