Sri lanka News – Sri Lanka sold 69 billion rupees worth of Treasury bills at Wednesday’s auction after offering 80 billion rupees, with most of the money coming from 3-month T-bills and yields fixed from a week earlier, data from the state debt office showed.
The debt office sold 167.1 billion rupees worth of 3-month bills at 33.05 percent, flat, after offering 37 billion rupees.
Only 1.8 billion rupees worth of 6-month bills were sold at 32.53 percent, also flat from a week earlier, after offering 30 billion rupees,
For one year bills, only 706 million rupees worth of bills were sold at 29.60 percent, also unchanged from a week earlier after offering 20 billion rupees.
Though only 69 billion rupees of bills were sold, it is not clear how much of the offer was originally held by the central bank.
The central bank had taken the main corrective action of allowing rates to go up, and private credit is now negative.
Banks also have liquidity shortages coming from having used reserves for imports (sterilized forex sales) which are filled overnight. (Colombo/Oct26/2022)
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