Weekly averages unchanged, subscription below 50%

By Wealth Trust Securities

The weighted average rates at the weekly Treasury Bill primary auction conducted yesterday remained steady while the total subscribed amount increased marginally to 42.28% of its total offered amount against its previous weeks 39.76%. The 91-day bill continued to dominate the auction as it represented 76.48% of the total accepted amount. The weighted average rates of the 91-day, 182-day and 364-day maturities were steady at 5.17% each and 5.21% respectively, while the bids to offer ratio increased to 1.38:1. 

In the secondary bond market, activity continued at a moderate pace yesterday. The maturities of 01.10.22, 2023’s (i.e. 15.01.23, 15.07.23 & 01.09.23) and 01.12.24 changed hands at levels of 5.65% to 5.67%, 5.80%, 6.05% to 6.08%, 6.15% and 6.70% respectively. In the secondary bill market, August 2021 maturities changed hands within the range of 5.07% to 5.11%, pre-auction.

The total secondary market Treasury bond/bill transacted volume for 21 June was Rs. 2.3 billion.   

In money markets, the overnight net liquidity surplus was seen increasing marginally yesterday to Rs. 89.78 billion as an amount of Rs. 132.07 billion was deposited at Central Banks SLDR of 4.50% against its previous days Rs. 125.66 billion. An amount of Rs. 42.29 billion was withdrawn from Central Banks SLFR of 5.50% against its previous days of Rs. 38.37 billion. The weighted average rates on overnight call money and repo were registered at 4.84% and 4.90% respectively.

USD/LKR   

In Forex markets, the overall market continued to remain inactive yesterday while the USD/LKR rate on cash and tom contracts traded at a level of Rs. 199.99.

The total USD/LKR traded volume for 21 June 2021 was $ 39.10 million.   

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