Rupee weakens slightly against US Dollar

EconomyNext reports that the rupee traded at 332.30/40 against the US dollar in the spot market on Tuesday, November 10, firmer than Monday’s close of 332.53/59. A separate EconomyNext account gives Tuesday’s closing spot rate as 332.33/40. EconomyNext also reports a Monday close of 332.53/59, following a previous-day rate of 332.55/60.

Newswire reports that Central Bank of Sri Lanka rates on Tuesday reflected a modest rise in the rupee against the dollar compared with Monday. The dollar’s buying rate moved down from 328.09 to 328.04 rupees, while its selling rate fell from 337.05 to 336.98. Newswire also reports small currency movements against a group of currencies that includes Gulf currencies. Daily Mirror and a separate Newswire report say the rupee weakened slightly on Monday, November 9, against the previous Friday; another Newswire headline describes appreciation across commercial banks, while a further Newswire headline describes depreciation.

EconomyNext reports that bond yields began Tuesday lower, with dealers attributing the move to declining oil prices and US President Donald Trump indicating that the war could end. Its Tuesday closing report lists lower yields for bonds maturing in 2029, 2030, 2032, 2034 and 2036; it also gives closing yields for a 2031 bond. EconomyNext’s Monday market report said yields rose, while an additional EconomyNext report says yields were broadly unchanged.

EconomyNext reports that 90 billion rupees in Treasury bills were due to be offered at auction on November 11. It also reports Tuesday gains of 0.82% to 21,708 in the Colombo Stock Exchange’s All Share Price Index and 0.96% to 6,201 in the S&P SL20. For Tuesday telegraphic transfers, EconomyNext lists dollar rates of 328.00 rupees buying and 337.00 selling, euro rates of 365.4749 and 379.2557, and pound rates of 439.8893 and 453.9977.