Sri Lanka's state debt office has rejected offers for three and 6 month bills at Wednesday's auction accepting only tenders only for 12 month bills.
After offering 12.0 billion rupees of maturing bills for roll-over the debt office said 9.2 billion rupees of bids, all for 12-month tenor were accepted at a average yield of 10.56 percent, down 03 basis points from a week earlier.
Meanwhile in forex markets the spot US dollar was quoted at 131.55.65 rupees but trading was taking place on spot-next, where settlement is made four days later, dealers said.
Sri Lanka's rupee has fallen around four rupees in recent weeks under pressure from excess rupee liquidity and a policy of the monetary authority not to intervene (unsterilized interventions) under a so-called 'flexible exchange rate' stance.
Treasury auction rejects bids received for the short term tenor bills
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Oleh
Lanka Stocks
