Sri Lanka Treasuries yields slightly up

Ishara S. Kodikara | AFP | Getty Images Sri Lanka Prime Minister Ranil Wickremesinghe, center, speaks to supporters at the prime minister's official residence in Colombo on December 16, 2018, after he was reappointed as prime minister by Sri Lanka's president, the same man who fired him from the job nearly two months ago.

July 18, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities with 12-month bills gaining the most rising 06 basis points to 13.16 percent at Wednesday’s auction, data from the state debt office showed. Three months bills rose 02 basis points to 11.36 percent and 6-month bills rose 05 basis points to 12.91 percent.

The debt office which is a unit of the Central Bank said 1.0 billion in 3-month bills, 13.4 billion rupees in 6-month bills and 2.2 billion in 12-month bills, totaling 16.7 billion rupees were sold.

The debt office initially said 25 billion rupees of bills were maturing and were offered for roll-over.

It is not clear whether the rest of the money was printed to repay holders or whether it was part of a 220 billion rupee Central Bank held bill stock, representing money printed in 2011 during a balance of payments crisis.

Sri Lanka’s interest rates have risen steadily in 2012 amid monetary tightening larger than expected budget deficit.

This week Sri Lanka successfully sold a billion US dollar bond.