Averages decline across the board for the first time in 21 weeks

• Auction fully subscribed for a second consecutive week

By Wealth Trust Securities

The weekly Treasury bill weighted average on the three-month bill was seen decreasing for the first time in 11 weeks while weighted averages on the six month and one-year bills declined for a second consecutive week at its auctions held yesterday. 

All three maturities recorded a decline for the first time in 21 weeks. The one-year bill declined the most by 17 basis points to 23.92% followed by the six-month bill by 11 basis points to 23.85% and the three-month bill by 05 basis points to 23.48%.

 The total offered amount was fully subscribed for a second consecutive week, totalling Rs. 97.5 billion this time around. The bids to offer ratio stood at 1.94:1. Given below are the details of the auction,

  Meanwhile, no activity was witnessed in the secondary bond and bill market yesterday.

 The total secondary market Treasury bond/bill transacted volume for 29 April 2022 was Rs. 10.67 billion.   

 In money markets, the net liquidity deficit stood at Rs. 592.49 billion yesterday as an amount of Rs. 175.78 billion was deposited at Central Banks SDFR (Standard Deposit Facility Rate) of 13.50% against an amount of Rs. 768.27 billion withdrawn from Central Banks SLFR (Standard Deposit Facility Rate) of 14.50%. The weighted average rates on overnight Call money and REPO stood at 14.50% each.

Forex Market 

The Forex market continued to remain inactive. 

 The total USD/LKR traded volume for 29 April was $ 37.65 million.  

 (References: Central Bank of Sri Lanka, Bloomberg E-Bond trading platform, Money broking companies)