364 day bill weighted average steady for third consecutive week

Thursday, 30 October 2014 01:14 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities The weighted average on the 364 day bill remained steady at 6.00% for a third consecutive week at its weekly auction conducted yesterday. In line with this activity in secondary bond markets moderated, wi

th a limited amount of activity witnessed across the yield curve commencing from two-year durations within the range of 6.40% to 6.50%, three years within 6.90% to 6.95%, four years within 7.07% to 7.12%. In addition, the 1 July 2022 and the 1 January 2024 were seen changing hands within the range of 7.94% to 7.97% and 8.15% to 8.18% as well in late trade. Meanwhile in money markets, surplus liquid stood at Rs. 21.07 billion yesterday as an amount of Rs. 10.00 billion was drained out for a period of two days at a weighted average of 5.59% by way of a repo auction. Overnight call money and repo rates remained steady yesterday to average 6.00% and 5.50% respectively. Spread on rupee narrows In Forex markets, active trades on only spot next contracts saw it close the day at levels of Rs 130.00/131.10 yesterday. The total USD/LKR traded volume for 28 October 2014 was at US $ 39.35 million. Some of the forward dollar rates that prevailed in the market were 1 Month - 131.40; 3 Months -132.38 and 6 Months - 133.43.