Interest rate is at one year low after rate plunged at primary auction today

The T-Bill rate fell substantially at the primary auction after CBSL said the domestic debt restructuring will not have any impact on T-bills. 91 days T-Bill fell by 1.87%, 182 days by 1.69% and 364 days fell by 1.94%. CBSL managed to sell the target volume and avoid money printing.

91Days T-Bill rate down by 8.5% and the 364Days T-bill rate down by 7.0%, from Dec 2022. CBSL raised benched marked interest rate in last April by 7% just after declaring the international debt default, where the secondary market interest rate adjusted by 13.50% to 15.25%.