T-Bill rates rose further at primary auction at PDD

The 91Days T-bill rate jumped to 8.38% from 8.26%, 182Days up to 8.40% from 8.30% and 364Days rate also increased to 8.44% from 8.39% at the previous auction held last week. CBSL managed to sell the entire target volume of the Bill, which enable them to prevent printing money for the auction settlement. But CBSL is continuously depending on very short-term funding as still the majority of the borrowing is toward 91days. CBSL managed to sell only LKR 1.16Bn of the T-Bills maturing 182Days or 364Days which is just 1.4% of the total T-bill sale at the auction.