Sri Lanka Treasuries yields plunge

Nov 18, 2013 (LBO) - Sri Lanka's Treasuries yields plunged across maturities for the second week in a row, with the 12-month rate falling 62 basis points to 8.



53 percent, data from the state debt office showed. The Central Bank has been intervening heavily in forex markets not allowing the rupee to appreciate in recent weeks.

Corrected 3-month rate down 63bp The 6-month yield fell 29 basis points to 8.19 percent. The 3-month yield fell 12 basis points to 7.

73 percent.

In the secondary market also one year bill traded around 8.

60 percent dealers said.

Sri Lanka's credit growth is weak and the finances of state enterprises, a key user of unproductive credit has also declined.

In money markets excess liquidity fell 42 billion rupees to 13.

6 billion Tuesday, indicating a foreign debt repayment.