Sri Lanka treasuries yields plunge

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

April 29, 2009 (LBO) – Yields on Sri Lanka’s treasuries plunged across the board at the weekly auction Wednesday with the 12-month yield falling 135 basis points to 14.05 percent, the government’s debt office said. The 6-month yield fell 95 basis points to 13.95 percent, and the 3-month yield fell 73 basis points to 12.65 percent.

The debt office, which is a unit of the central bank said 7 billion rupees of bills were maturing and 7 billion was rolled over with 1.5 billion rupees of 3-month bills, 2.0 billion of 6-month bills and 3.5 billion rupees of 12-month bills.

The central bank has cut rates steeply since the beginning of the year.

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