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Sri Lanka’s Treasury bill yields edge up

COLOMBO (EconomyNext) – Sri Lanka’s 3-month Treasury bill yields rose across maturities at Tuesday’s auction with the 3-month yield rising 03 basis points to 5.79 percent, data from the state debt office showed.

The debt office sold 8.2 billion rupees of three month bills.

The 6-month yield rose 03 basis points with 4.4 billion rupees of bills being sold and the 12 month yield rose 04 basis points with 7.0 billion rupees of bills sold.

The debt office which is a unit of the Central Bank offered 15 billion rupees of maturing bills to the auction and accepted 19.7 billion rupees of bills.

A country’s Treasury bills have to move according to credit demand to prevent economic instability such as the currency falling with credit demand going out of line with deposit creation.