Jan 16, Colombo: Sri Lanka Central Bank's issue of Rs.24 billion Treasury Bills at the weekly auction on Wednesday for the week ending 16 January, 2013 was oversubscribed three fold with declining rates.

At the weekly primary auction, the re-issue of Rs.24 billion maturing Treasury bills was oversubscribed with bids amounting Rs. 73.978 billion being received, the Central Bank said. The Bank has decided to accept Rs. 34.618 billion from the auction.

Continuing the last week's trend, the one-year Treasury bill rate has declined by 9 basis points to 11.26% this week from the previous week's 11.35%. The Bank has accepted Rs. 29.841 billion on one-year T-bills.

Six month tenor bills rate declined by 23 basis points to 10.58% from last week's 10.81%and the three month tenor bills declined to 9.75%, from last week's 9.88%.

The Bank accepted Rs. 3.721 billion in 6-month and Rs. 1.056 billion in 3-month bills.