Sri Lanka Treasuries move up across maturities

Nov 02, 2010 (LBO) - Sri Lanka's Treasury bill yields moved up between 16 to 18 basis points across maturities at Tuesday's auction, the government's debt office said.

The spot US dollar was quoted at 111.

69/70 rupees, dealers said.

The 3-month yield rose 16 basis points to 7.

29 percent, the 6-month yield rose 13 basis points to 7.

38 percent and the 12-month yield rose 18 basis points to 7.55 percent.

The government's debt office, which is a unit of the central bank said bids of 13.08 billion rupees were accepted from the market, and 13.

0 billion rupees of bills matured.

The yields are in line with the central bank's policy rate of 7.

25 percent at which excess liquidity is withdrawn from the market. Sri Lanka's excess reserves hit 104 billion rupees on November 01.
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At a policy rate of 7.25 percent the effective rate for a 3-months is 7.

31 percent and the 6-month rate is 7.

38 percent, and the 12-month rate is 7.

51 percent, dealers said.