1 year T.Bill yield tops 11%; Rs. 10 b auction draws Rs. 18.6 b bids

The weighted average yield (WAY) of 364-day Treasury Bills topped the 11% mark yesterday.

The WAY of 11.11% up from 10.76% was the highlight of the weekly primary auction whilst given the high yield, the Central Bank only accepted Rs. 1 billion worth of bids out of Rs. 6 billion received.

The weekly auction was for the re-issuance of Rs. 10 billion maturing Treasury Bills. It drew bids worth Rs. 18.6 billion but only Rs. 8.1 billion was accepted, which was below the offered amount.

The WAY on 91-day Bill moved up to 10.75% from 10.42% in the previous auction. Of the Rs. 9 billion bids received, Rs. 7.1 billion was accepted. Central Bank rejected bids worth Rs. 3.6 billion made for the 182-day Bill auction. Its previous WAY was 10.46%

Bids worth Rs. 3.6 billion received for the 182-day Bill auction were rejected