364 day bill average decreases for a second consecutive week

Thursday, 7 March 2019 01:42 - - {{hitsCtrl.values.hits}}

Secondary bond market yields remain steady

The 364 day bill weighted average at yesterday’s weekly Treasury bill auction decreased for a second consecutive week, with the total offered amount of Rs. 24 billion been fully accepted only on this maturity once again, rejecting all bids for the 91 day and 182 day maturities. The 364 day bill registered a drop of 03 basis points, while its bids to offer ration stood at 4.3:1 against total bid to offer ratio of 3.1:1.

The secondary bond market yields were seen closing the day mostly unchanged for a second consecutive day, on the back of local selling interest and foreign buying interest. The mid-term maturities of 01.08.21 and 15.12.23 were seen changing hands at levels of 10.75% and 10.85% to 10.92% respectively while the maturities of 01.03.21, 01.05.21, 15.03.25 and 01.05.29 were traded at levels of 10.70% to 10.75%, 10.72% to 10.75%, 11.16% and 11.34% to 11.35% respectively as well.

The total secondary market Treasury bond/bill transacted volumes for 05 March was Rs. 7.58 billion.

In the money market, overnight call money and repo rates averaged 8.90% and 8.93% respectively as the OMO Department of the Central Bank infused liquidity for durations of overnight and 7 days, for amounts of Rs. 15.00 billion and Rs. 5.00 billion at weighted average yield of 9.00% each. The overnight net liquidity shortfall increased to Rs. 34.30 billion yesterday.

Rupee appreciates considerably

The USD/LKR rate was seen appreciating considerably yesterday on the back of export conversions and selling interest by banks to close the day at Rs. 178.30/45 against its previous day’s closing level of Rs. 179.00/10.

The total USD/LKR traded volume for 05 March was $ 151.40 million.

Some forward USD/LKR rates that prevailed in the market were: 1 month - 179.25/50; 3 months - 181.15/45; 6 months - 184.05/35.

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