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By Wealth Trust Securities
The weighted averages at yesterday’s weekly Treasury bill auction were seen decreasing for a fourth consecutive week with the 364 day maturity decreasing to a 21-month low of 9.04%, recording a week-on-week decrease of 30 basis points.
This was closely followed by the 182 day maturity, as it decreased by 28 basis points to 8.48% in the absence of the 91 day maturity. A total amount of Rs.17.39 billion was accepted against its initial total offered amount of Rs. 17.5 billion as the bids to offer ratio stood at 4.12:1. Given below are the details of the auction,
The secondary bond market remained active yesterday as continued buying interest on the maturities of 01.05.20, 01.03.21, 01.07.22, 15.05.23, 01.08.26, 15.06.27 and 15.05.30 saw its yields dip to intraday lows of 9.55%, 9.65%, 9.95%, 10.00%, 10.15%, 10.20% and 10.47% respectively against its previous day’s closing levels of 9.55/65, 9.77/84, 9.95/05, 10.02/08, 10.18/20, 10.23/27 and 10.50/55.
The total secondary market Treasury bond/bill transacted volumes for 12 December 2017 was Rs. 6.67 billion.
Given below are the closing, secondary market yields of the most frequently traded T – bills and bonds,
In money markets, the overnight call money and repo rates remained mostly unchanged to average 8.13% and 7.55% respectively as the net surplus in the system stood at Rs. 18.61 billion yesterday. The Open Market Operations (OMO) Department of the Central Bank of Sri Lanka drained out an amount of Rs. 12 billion on an overnight basis by way of a repo auction at a weighted average of 7.25%.
In the Forex market, the USD/LKR rates on spot contracts were seen depreciating yesterday to close the day at Rs. 153.20/35 against its previous day’s closing levels of Rs. 153.05/12 on the back of renewed importer demand.
The total USD/LKR traded volume for 12 December 2017 was $ 60.05 million.
Given below are some forward USD/LKR rates that prevailed in the market,
1 Month - 154.25/35
3 Months - 155.95/15
6 Months - 158.70/90
