Weekly weighted averages decline at slower pace

By Wealth Trust Securities

The weekly Treasury bill weighted averages were seen continuing their declining trend yesterday albeit at a slower pace as the total offered amount of Rs. 30 billion was all but met with Rs. 29.76 billion. 

The 91-day bill reflected the highest decline of 16 basis points to 8.87% closely followed by the 182-day and the 364-day bills decreasing by 14 and 10 basis points respectively to 9.02% and 9.38%. However, in the secondary bond market yesterday, the upward trend in yields continued throughout the day with the three 2021’s (i.e. 01.03.21, 01.08.21 and 15.12.21), 01.07.22, 15.05.23, 01.08.24, 01.09.28 and 15.05.30 maturities hitting intraday highs of 10.33%, 10.43%, 10.25%, 10.38%, 10.56%, 10.60% 10.82% and 10.97% respectively.

The total secondary market Treasury bond transacted volume for 8 August 2017 was Rs. 17.57 billion.

Meanwhile in money markets, overnight call money and repo rates averaged 8.71% and 8.77% respectively as the Open Market Operations (OMO) Department of the Central Bank drained out an amount of Rs. 9.7 billion yesterday on an overnight basis at a weighted average of 7.32%. The net surplus liquidity in the market stood at Rs. 12.37 billion yesterday. 

Rupee remains 

mostly unchanged 

 The USD/LKR rate on spot contracts remained mostly unchanged to close the day at Rs. 153.20/30 yesterday as the market was equilibrium.

The total USD/LKR traded volume for the 8 August 2017 was $ 32.5 million.

Some of the forward USD/LKR rates that prevailed in the market were one month - 153.95/05; three months - 155.50/60 and six months - 157.70/90.