Wire: Bloomberg First Word (BFW) Date: Jan 24 2017 9:23:01
By Anusha Ondaatjie
(Bloomberg) — Rupee “slowly stabilizing” with pace of foreign selling in LKR bonds easing, says Dimantha Mathew, head of research at First Capital Equities.
* Reserves boosted by Sri Lanka accepting double the amount of development bonds offered for sale last week, which is also helping to cushion rupee’s decline, Mathew said Monday.
* An upcoming loan facility by the government will “boost sentiment” and support currency: Mathew
* NOTE: Sri Lanka plans up to $1B foreign currency term financing
* Rupee little changed at 150.18/dollar; USD/LKR’s MACD, below signal line and trending toward zero
* Yield on 8% govt bonds due Nov. 2018 rose 2bps to 11.38% on Jan. 23, data compiled by Bloomberg show
* Sri Lanka Dec. national consumer price index rose 4.2% y/y
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