Primary auction rates in line with stipulated cut off rates

By Wealth Trust Securities

The weighted average rates at the weekly Treasury bill primary auction conducted yesterday were in line with the stipulated cut off rates of 4.67%, 4.78% and 5.01% respectively on the 91, 182 and 364 day maturities. However, the accepted amount fell short by Rs. 13.16 billion out of the total offered amount of Rs. 40 billion, while the bids to offer ratio increased to 1.38:1.

Meanwhile, activity in the secondary bond market remained moderate yesterday, with only the 15.12.22 and 15.10.27 maturities changing hands at levels of 5.70% to 5.75% and 7.20% to 7.21% respectively. 

The total secondary market Treasury bond/bill transacted volumes for 15 December was Rs. 3.16 billion.   

In the money market, the overnight call money and Repo rates remained mostly unchanged to average 4.54% and 4.58% respectively, while the overnight surplus liquidity decreased to Rs. 224.30 billion.

Rupee depreciates

In the Forex market, the USD/LKR rate on spot next contracts depreciated yesterday, to close the day at Rs. 188.20/70 in comparison to its previous day’s closing levels of Rs. 187.60/00. The total USD/LKR traded volume for 15 December was $ 41.90 million.   

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