ECONOMYNEXT – Sri Lanka has sold 30 billion rupees of Treasury bills with yields largely unchanged across maturities, data from the state debt office showed.
The debt office which is a unit of the central bank sold 1.4 billion rupees of 3-month bills to yield 6.71 percent, down from 6.74 percent a week earlier after offering 8.0 billion rupees.
10.7 billion rupees of 6-month bills were sold at an average yield of 6.83 percent, unchanged from a week earlier after offering 6.0 billion.
17.7 billion rupees of 12-month bills were sold at an average yield of 6.93 percent steady from 6.94 percent last week.
All 30 billion rupees of bills offered were sold showing no visible money printed.
However under a policy deterioration made during the tenure of ex-Governor Indrajit Coomarasway the central bank can print money outside the auction by purchasing longer term bills and manipulate yields further down the yield curve.
An outright auction had already been called this week. (Colombo/May20/2020)