182 day bill W.Avg dips to 15-week low

Thursday, 19 November 2015 00:00 - - {{hitsCtrl.values.hits}}

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By Wealth Trust Securities

The weighted average (W.Avg) on the 182 day bill was seen dipping to a 15-week low of 6.50% at its weekly Treasury bill auction conducted yesterday reflecting a drop of 37 basis points (bp) against its previous W.Avg. In addition, the 364 day bill dipped by one bp to 6.93% as the total accepted amount fell below the total offered amount of Rs.15 billion by Rs.2.57 billion.

Despite the drop in weekly averages, secondary market bond yields were seen closing the day broadly steady amidst thin volumes changing hands. A limited amount of activity was witnessed on the 15.09.2019, 01.05.2020, 01.08.2021 and the 01.09.2023 maturities within the range of 8.65% to 8.68%, 8.78% to 8.82%, 8.96% to 8.98% and 9.23% to 9.27% respectively.

However on the long end of the yields curve, continued buying interest saw the 01.09.2028, 15.05.2030 and 15.03.2035 maturities change hands within the range of 9.30% to 9.50%, 9.30% to 9.35% and 9.65% to 9.80% respectively. In secondary market bills, durations centering the 182 day bill were changing hands within the range of 6.35% to 6.45% post auction.

In money markets, overnight call money and repo rates remained steady to average 6.31% and 6.05% respectively as surplus liquidity increased to Rs.141.15 billion.

Rupee appreciates marginally

The rupee rate on spot contracts was seen closing the day marginally higher at Rs.142.30/40 yesterday against its previous day’s closing of Rs.142.35/50. The total USD/LKR traded volume for 17 November was $ 34.15 million.

Some of the forward USD/LKR rates that prevailed in the market were one month – 142.55/65; three months – 143.20/30; and six months – 144.45/60.

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