Secondary market Treasury bond yields eased further on Monday (28) before profit taking brought up yields ahead of a record Rs.45 billion bond auction on Tuesday, currency dealers said.
The five year bond yield edged lower to 10.90/95 on early trading from an opening position of 11.05/10 but profit taking pushed up yields to around 11.02/05 at the close. Last Thursday, yields fell after an eight day up-rise on account of today’s (29) Treasury bond auction.
"We are yet to see signs of foreign participation for the bond issue or the rupee would have appreciated by now," one currency dealer said. Foreign participation at today’s auction could drive down yields further.
The rupee closed at Rs. 127.10/15 against the US dollar on Monday, slightly down from an opening position of Rs. 127.05/10.
Dealers said moral suasion by the Central Bank was preventing the rupee from falling further against the greenback on persistent importer demand.
source - www.island.lk
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