Wednesday Sep 25, 2024
Wednesday Sep 25, 2024
Friday, 30 September 2022 00:00 - - {{hitsCtrl.values.hits}}
By Wealth Trust Securities
The weighted average rates on the 3-Y maturity of 01.07.2025, 5-Y maturity of 15.01.2028 and 10-Y maturity of 01.07.2032 were seen crossing the 30.00% psychological level for the first time in its history at its auctions conducted yesterday.
The 3-Y and 10-Y recorded weighted average rates of 30.95% and 30.09% respectively against its previous day’s closing rates of 29.00/40 and 29.50/00. The weighted average rate on the 5-Y maturity was registered higher at 31.50%.
The phase two of the auction was opened for the 3-Y and 5-Y maturities as only Rs. 57.31 billion was taken up in total on these two maturities against a total offered amount of Rs. 75 billion. However, the total offered amount of Rs. 70 billion on the 10-Y maturity was fully accepted while a further 20% will be on offer by way of a direct issuance window until close of business today. (I.e., 4 p.m. on 30 September).
In the secondary bond market, activity was seen picking up following the auction outcomes. The 01.07.25, 15.01.28 and 01.07.32 maturities were seen trading at levels of 31.25% to 31.50%, 31.50% to 32.00% and 30.00% respectively.
The total secondary market Treasury bond/bill transacted volume for 28 September was Rs. 41.48 billion.
In money markets, the net liquidity deficit stood at Rs. 414.35 billion yesterday as an amount of Rs. 326.92 billion was deposited at Central Bank’s Standard Deposit Facility Rate (SDFR) of 14.50% against an amount of Rs. 741.27 billion withdrawn from Central Bank’s Standard Lending Facility Rate (SLFR) of 15.50%. The weighted average rate on overnight REPO stood at 15.50%.
Forex market
In the forex market, the middle rate for USD/LKR spot contracts remained steady for a 10th consecutive day at Rs. 362.90.
The total USD/LKR traded volume for 28 September was $ 24.48 million.
(References: Central Bank of Sri Lanka, Bloomberg E-Bond trading platform, Money broking companies)
