Sri Lanka sells 1-yr T-bills at 8.61-pct as auction rates rise
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ECONOMYNEXT- Sri Lanka’s Public Debt Department said it sold 12 month Treasury bills at a weighted average yield rate of 8.61 percent on Wednesday, rising from 8.58 percent a week earlier.
Twelve month bill rates have been rising for over a month, starting from December 13, when yields marginally rose to 8.23 percent.
On Tuesday, one year bonds had closed marginally lower than the auctioned rate at 8.56/60 percent.
Six month bills were sold at 8.15 percent, rising from 8.13 percent a week earlier, while three month bills were sold at 7.55 percent, up from 7.50 percent when they were last sold a fortnight ago.
The debt office said it sold 16.5 billion rupees in 12 month bills, the full amount announced, after receiving 34.6 billion rupees in bids.
Six month bills were oversold, with issuances of 7.95 billion rupees against a planned 7.5 billion rupees, with 22.8 billion rupees in bids.
In three month bills, 1.05 billion rupees were sold against a planned 1.5 billion rupees, with 5.09 billion rupees in bids being received.
The Public Debt Department in total sold 25.5 billion rupees in Treasury bills, the exact amount it planned to raise, after receiving 62.54 billion rupees in bids.
The auction will be settled on January 24. (Colombo/Jan22/2020)