Sri Lanka Treasury bill yields frozen, bids rejected

Apr 03, 2013 (LBO) – Sri Lanka’s three and six months Treasury bill yields were frozen Wednesday with market bids rejected, data from the state debt office showed.
The 3-month yield was kept at 9.
26 percent, 6-month bids rejected and the 12-month yield was also flat at 11.
35 percent.

The debt office which is a unit of the Central Bank offered 12.
0 billion rupees of maturing bills at the auction and accepted only 8.
8 billion rupees.

Sri Lanka prints tens of billions of rupees in April to pay festival advances to state workers amid seasonal cash draw downs from the banking system ahead of a traditional new year.

This year however there is over 30 billion rupees of excess liquidity in money markets.

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