Sri Lanka sells 12-month treasuries at 9.61-pct

ECONOMYEXT – SrI Lanka has sold 28 billion rupees of 12-month Treasury bills at a weighted average yield of 9.61 percent, slightly higher than 9.59 percent last week, the state debt office said.

The debt office offered 4.0 billion rupees of 3-month bills, 5.0 billion rupees of 6-month bill and 19 billion rupees of 12-month bills.

However it accepted the entire quantity from 12-month bills after getting orders for 55 billion rupees of bills.

The date of settlement is May 04.

At the last auction the central bank mopped up about 19 billion rupees of printed money by selling down its Treasury bill stock by close to 19 billion rupees, helping support the rupee.

The rupee fell in the last two weeks of April after the central bank printed tens of billions of rupees to enforce a rate cut on top of seasonal cash demands.

On Wednesday it mopped up 10 billion rupees of cash overnight.  (Colombo/May02/2018)

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