Sri Lanka rupee flat against dollar, bond yields up

Friday October 3, 2025 4:53 pm

ECONOMYNEXT – Sri Lanka’s rupee closed at 302.45/55 to the US dollar on Friday, from 302.46/52 the previous day, while bond yields closed up, dealers said.

A bond maturing on 15.12.2026 closed at 8.34/44 percent, up from 8.35/40 percent.

A bond maturing on 15.02.2028 closed at 9.05/10 percent.

A bond maturing on 15.12.2029 closed at 9.67/70 percent.

A bond maturing on 15.12.2032 closed at 10.48.58 percent, down from 10.50/60 percent. (Colombo/Oct3/2025)

Friday October 3, 2025 7:01 pm

ECONOMYNEXT – Sri Lanka President Anura Kumara Dissanayake called on the island nation’s influential Buddhist leaders days after they warned against his government’s LGBTQ plans to boost more tourists.

The Chief Prelates of all three Buddhist Chapters earlier this week wrote to President Dissanayake expressing concern over the government initiatives including LGBTQ tourism promotion and warned that the new moves could harm cultural values and lead to serious social consequences.

In their letter, the Buddhist leaders pointed out that efforts aimed at promoting tourism through LGBTQ-related activities, could give rise to what they described as “serious social catastrophes.”

They also raised objections to proposed amendments to the Penal Code, which seek to introduce an offence of corporal punishment, which may have negative implications.

President Dissanayake on Friday met Chief Prelates of the Malwathu and Asgiri Chapters and received their blessings, the President’s Media Division (PMD) said in a statement.

It further said the President “engaged in a brief discussion and received blessings” without elaborating.

Later he also visited the Asgiri temple and met the Chief Prelate of Asgiri Chapter and “engaged in a brief conversation”.

In Sri Lanka, religious leaders from all major faiths have expressed strong opposition to the promotion of pro-LGBTQ laws, even when such reforms are framed as a means to boost tourism and attract foreign visitors.

Their resistance is rooted in the belief that LGBTQ rights conflict with traditional cultural values, family structures, and religious teachings that view heterosexual marriage as the only acceptable form of union.

Many clerics argue that legal recognition or public promotion of LGBTQ rights would erode the country’s moral fabric and encourage practices they consider sinful or unnatural.

They also fear that prioritizing tourism revenue through liberal reforms could compromise the nation’s religious identity and set a precedent for foreign influence in domestic policy.

As a result, religious leaders have been vocal in urging the government to preserve what they call Sri Lanka’s “cultural integrity,” warning that aligning laws with global liberal trends could trigger social backlash and deepen divisions between conservative communities and advocates of progressive change. (Colombo/October 3/2025)

Friday October 3, 2025 4:10 pm

ECONOMYNEXT – Sri Lanka’s stock market closed up on Friday, after both its indices hit records in the day, as the All Share Price Index surpassed 22,000 points, and S&P SL20 surpassed 6,200 points.

The broader ASPI rose 0.65 percent. or 143.10 points. to end at 22,094.89; while the more liquid S&P SL20 closed 0.64 percent, or 39.30 points higher, at 6,187.51.

Top contributors to the ASPI were Melstacorp (up 11.25 rupees at 191.50), Sampath Bank (up 2.25 rupees at 148.25), Dipped Products (up 5.20 rupees at 71.00), Hayleys Plc (up 3.75 rupees at 191.50) and Commercial Bank (up 1.50 rupees at 194.75).

Market turnover was 9.7 billion rupees.

Lanka Credit and Business Finance contributed 1.4 billion rupees in turnover and was listed as a top gainer. The stock closed 1.30 rupees higher at 7.90 rupees.

The share volume hiked to 439,489,878 from 192,140,048.00 on Thursday.

Nations Trust Bank said the thirty first conversion/reclassification of non-voting convertible shares into voting shares for 4Q 2025 will begin on the last market day of the quarter ending 31st December 2025.

Elsewhere, Indian equity markets continued to end higher. Investor interest remained due to Central Bank easing rules for lending to capital markets and large corporations and “good monsoon predictions and increased festive season demand,” The Times of India said.

The Nifty 50 index rose 0.23 percent to 24,894.25, while the BSE Sensex moved 0.28 percent up to 81,207.17.

Meanwhile, Pakistan’s KSE 100 index rose 0.62 percent to 169,541.52.

Japan’s Nikkei 225 index reached all time high as “heavyweight technology shares fared well and exporters were bought on a weaker yen after the Bank of Japan governor appeared cautious about interest rate hikes,” Japan’s The Mainichi newspaper said.

The index ended 1.85 stronger at 45,769.50.

As at 3.20 pm Sri Lankan time, spot gold was trading at 3,872.62 US dollars, up 9.09 US dollars. (Colombo/Oct03/2025)

Friday October 3, 2025 3:51 pm

ECONOMYNEXT – Sri Lanka has sold 1,927 million rupees of treasury bills offered on tap at average rates of 7.53 percent and 8.02 percent, the state debt office said, bringing the total of bills sold this week to 44.92 billion rupees.

The debt office sold 3-month bills at 7.53 percent.

The debt office sold 12-month bills at 8.02 percent.

On Wednesday (1) the debt office raised 44 billion rupees of 3, 6 and 12 month bills.

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Sri Lanka sells Rs43bn treasury bills, yields down on short term

The date of settlement is October 3. (Colombo/Oct3/2025)