Jan 11, 2008 (LBO) — Sri Lanka bond yields edged up slightly after Friday’s auction which raised two billion rupees for the government in one and two year bonds, dealers said. The central bank also sterilized 1.2 billion rupees of liquidity by selling 11-day bills at an average yield of 18.51 percent and a further 1.8 billion by selling 18-day bills at around 18.66 percent, dealers said.
The government’s debt office raised a billion rupees in 14 month bonds maturing on 15.03.2009 at an average rate of 18.58 percent and one billion rupees from two year bonds maturing in 01.11.2010 at an average of 17.06 percent.
Rates came down steeply over the past week as government borrowing needs moderated from the levels seen towards the end of December.
Meanwhile, in the secondary market 2009 bonds edged up from 18.25 percent levels to 18.45/50 percent and 2010 bonds from 16.85 percent levels to 17.10 percent, dealers said.
The rupee was volatile on Friday dipping to 108.49 against the greenback in morning trade until a state name that usually represents the monetary authority started selling dollars.
In late trading the rupee appreciated to 108.
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08/12 levels.