The total offered amount of Rs. 19 billion was successfully accepted at the auction as the bid to offer ratio stood at 3.07:1.
In the meantime, the secondary bond market remained active yesterday, with continued local buying interest resulting in yields dipping across the curve for a second consecutive day. The liquid maturities of 15.05.23, 01.08.26 and 15.06.27 saw its yields dip to intraday lows of 11.80%, 11.95% and 12.02%, respectively, in comparison to the previous day’s closing levels of 11.80/88, 11.95/10 and 12.10/15.
The total secondary market Treasury bond/bill transacted volumes for 4 December was Rs. 4.79 billion.
In the money market, the overnight call money and repo rates averaged 8.95% and 8.90%, respectively as the overnight net liquidity shortfall increased further to Rs. 79.63 billion. The OMO Department of the Central Bank infused a total amount of Rs. 45 billion at weighted average yields of 8.56% for overnight and 8.58% for seven days.
Rupee loses further
The USD/LKR rate on spot contracts was seen depreciating further yesterday, to close the day at Rs. 179.20/35 against its previous day’s closing levels of Rs. 179/20 on the back continued importer dollar demand.
The total USD/LKR traded volume for 4 December was $ 68.38 million.
Some of the forward USD/LKR rates that prevailed in the market were 1 month – 180.30/70, 3 months – 182.25/65, and 6 months – 185.20/60.