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Sri Lanka Treasuries yields up, rupee weaker
07 Nov, 2012 14:49:56
Nov 08, 2012 (LBO) - Sri Lanka's Treasuries rose on longer maturities at Wednesday's auction with the 12 month yield rising 09 basis points to 12.65 percent from a week earlier, data from the state debt office showed, while the rupee weakened.
The 6-month yield rose 05 basis points to 12.02 percent. The 3-month yield was flat at 10.68 percent.

The debt office said 1.0 billion rupees in 3-month bills, 6.5 billion rupees in 6-month bills and 3.0 billion rupees in 12 month bills totaling 10.36 billion rupees were sold.

In forex markets the spot US dollar was quoted at 130.75/85 rupees dealers said with deals going as high as 130.95 to the US dollar.

Sri Lanka's rupee has been generally responding to market demand and monetary policy in recent weeks and has weakened from around 128.50 to the US dollar.

The central bank has also injected term money into markets at rates far below market rates.

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1. Wadda Podda Nov 08
A sad day to all those people who predicted a stronger rupee. Or maybe they just speculators who wanted to gain from catching the 'housewife's' on the wrong foot.