Weekly T-Bill Auction goes undersubscribed

COLOMBO (News1st): The Central Bank failed to sell 14 percent of Treasury bills offered at its weekly auction on Wednesday, official data showed. Treasury bills worth Rs 34.3 billion were sold out of Rs 40 billion offered at the auction, while the total value of bids received stood at Rs 62.3 billion - 1.56 times of what was offered. ''There were only marginal changes in the rates, mainly in the 3 months maturity, where rates were up by 0.1 percent'' said Capital Market Analyst Dimantha Mathew.