Sri Lanka short term Treasuries yields fall

June 06, 2012 (LBO) - Sri Lanka's short term Treasury bill yields fell as much as 15 basis points at Wednesday's auction though one year yields edged up slightly, data from the state debt office showed.





Before the advent of paper money and central banking, rulers debased money by mixing precious metals with cheaper metals such as copper or minting smaller coins.

Update II The three month yield fell 15 basis points to 10.86 percent and the 6-month yield fell 17 basis points to 12.

12 percent. But the 12-month yield edged up 6 basis points to 12.




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66 percent, data released by the state debt office, a unit of the Central Bank showed.

Soon after the auction, in secondary market 3-month yield fell further to be quoted around 10.70/80 percent and the 6-month down to 11.

90/12.00 percent, dealers said. The one year was quoted around 12.

60/75 percent

The state sold 5.3 billion rupees of 3-month bills, 10.

3 billion rupees of 6-month bills and 4.

7 billion rupees of 12-month bills.

Sri Lanka's central bank heavily controlled Treasury bill yields up to March 2012 with printed money triggering a balance of payments crisis and which send the rupee plunging to 130 rupees from 110 to the US dollar