Sri Lanka Treasuries flat, low acceptances

Oct 12, 2011 (LBO) - Sri Lanka's Treasuries yield were flat at Wednesday's auction though only bids of 48 percent of the volume offered were accepted from the market, data released by the state debt office showed.

Sri Lanka's rupee had been under pressure in recent months and the Central Bank has increased its Treasuries stock as it sterilized outflows and tried to keep rates down amid dollar sales that sucked up rupee liquidity.

The 3-month yield was flat at 7.

21 percent, the 6-month yield was flat at 7.

27 percent and the 6-month yield was also kept flat at 7.34 percent.

The debt office, which is a unit of the Central Bank offered 10 billion rupees of bills for the auction and accepted only buds of 4.

8 billion rupees.

Most of the bids or 4.4 billion rupees was accepted from 3-month bills.

There was 251 million in 6-month bills sold and 166 million in 12-month bills sold.