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
To contact the reporter on this story:
Anusha Ondaatjie in Colombo at email@example.com
To contact the editor responsible for this story:
Tan Hwee Ann at firstname.lastname@example.org
The company operates in the capital markets of Sri Lanka in government securities – treasury bills and bonds, stock brokering and share market investments, asset management, private wealth management, retirement planning, personal financial planning, unit trust, margin trading, capital market research, trustee services, corporate finance advisory services including corporate debt structuring (debentures, trust certificates, commercial papers), valuations, restructuring, mergers and acquisitions, initial public offerings (IPOs) and project advisory.
The First Capital Group consists of First Capital Treasuries PLC, First Capital Limited, First Capital Markets Limited, First Capital Asset Management Limited and First Capital Equities (Private) Limited covering Colombo, Negombo, Matara, Kandy and Kurunegala.