The weekly Treasury bill auction of the Central Bank was held yesterday (November 02) and the auction was oversubscribed with bids amounting to Rs. 29,787 million being received.

It was decided to accept Rs. 13,088 million from the auction, CB said.

The 3 month bills went up to 7.38% from last weeks 7.25%and the 1 year rates standing at 7.55% from 7.37% of last weeks rate.

The auction was oversubscribed with bids amounting to Rs. 29.7 billion while it only accepted Rs. 13 billion to settle Rs. 13 billion worth of maturing treasury bills.

The rates of the Government Securities which saw a steady decline in recent times, is once again on an upward trend since recent weeks.