Sri Lanka treasuries rates edge lower

Sept 10, 2008 (LBO) – Sri Lanka’s 12-month treasury bill yield fell 16 basis points to an average of 18.34 percent and 6-month bills fell 30 basis points to 17.45 percent at Wednesday’s auction, the government’s debt office said. The debt office which is a unit of the central bank said 8,000 million rupees of bills were offered to the market but only 6.6 billion rupees of bids were accepted. The balance was rejected.

Three month bills were not offered to the market.

Dealers say 12-month bills were quoted around 18.27/34 on Wednesday after the auction, which is lower than the auction average.

Six month bills are quoted at 17.36/41 levels which were also lower than the auction average.