Sri Lanka fails to sell 77-pct of Treasuries offered at auction
ECONOMYNEXT – Sri Lanka has failed to sell 77 percent of Treasuries offered at an ‘auction’ on March 30 with accepted for 12-month bills where there is a ceiling of 5.12 percent.
The debt office sold 2.98 billion rupees of 3-month bills at 5.05 percent, up 01 basis point after offering 10 billion rupees.
In 6-month bills 7.2 billion rupees of securities were sold at 5.10 percent up 02 basis points after offering 15.0 billion rupees.
There were no sales of 12-month bills at 5.12 percent.
Last week the central bank’s Treasury bill stock went up by 18 billion rupees to 824 billion rupees after 74 percent failed to be sold.
Up to last week 117 billion rupees had been printed and short banks had borrowed another 46 billion rupees from the central bank’s overnight window.
The reserve outflow had been higher than the liquidity injected. (Colombo/Mar30/2021)