Rupee appreciates further

The rupee appreciated further to close yesterday at Rs. 129.10 from Friday’s closing of Rs. 129.45, according to Wealth Trust Securities.

It said the total USD/LKR traded volume for the previous day (28 September 2012) stood at US$ 69.44 million.

Some of the forward dollar rates that prevailed in the market were one month at Rs. 130.35, three months at Rs. 132.68 and six months at Rs. 135.75.

Wealth Trust also said secondary bond markets remained rather subdued

yesterday.



“The week opened with secondary market bond yields remaining rather flat and subdued yesterday in comparison to its previous two weeks of activity. However limited activity was witnessed on the more liquid three-year and five-year maturities as yields dipped marginally in early hours of trading to intraday lows of 12.37% and 13.47% respectively and increased towards the latter part of the day to intraday highs of 12.43% and 12.60%,” Wealth Trust said.

In money markets, liquidity remained at a net deficit of Rs. 5.868 billion for a second consecutive day yesterday, as the Central Bank injected an amount of Rs. 5.0 billion into the system at a rate of 9.71% through its open market operations.

“As a result, overnight call money and repo rates remained steady to average 10.57% and 9.65% respectively,” Wealth Trust added.