WAvg steady for a second consecutive week as accepted amounts exceed offered amounts

Thursday, 28 February 2013 00:44 - - {{hitsCtrl.values.hits}}

By Wealth Trust Securities

The total accepted amount at yesterday’s weekly Treasury bill auction was Rs. 3.7 billion higher than its initial total offered amount of Rs. 15 billion as weighted averages (WAvg) remained steady on the 182-day and 364-day bills at 10.08% and 11.10% respectively, while the 91-day reflected a dip of 1 bp to 9.09%.

Meanwhile in secondary markets, bond yields increased once again yesterday mainly on the liquid two five year maturities (i.e. 15.08.2018 and 01.04.2018) to an intraday high of 11.15%. Furthermore, a limited amount of activity was witnessed on the longer tenure nine-year maturity, as it changed hands within the range of 11.93% to 12.00%. In secondary market bills, the 364-day bill was seen changing hands at levels of 11.10% to 11.15%.

Overnight call money and repo rates remained steady to average 9.43% and 8.54% respectively as surplus liquidity in money market remained at high of Rs. 44.16 billion. This intern saw the Open Market Operations (OMO) department of the Central Bank drain out an amount of Rs. 41.4 billion at a weighted average of 8.35% by way of an overnight Repo auction.

Rupee remains stable

In Forex markets, the rupee remained mostly unchanged yesterday to close the day at Rs. 127.49. The total USD/LKR traded volume for the previous day (26.2.13) stood at US$ 37.15 million. The following are some forward dollar rates that prevailed in the market: 1 month – 128.38, 3 months – 130.18 and

6 months – 133.15