T-BILLS WORTH QR1.5 BILLION SOLD BY QCB
Qatar Central Bank (QCB) said that it sold QR1.5 billion of Treasury bills in a monthly auction. The move led to a rise in yields from last month’s sale.
The bank sold QR500 million of three-month bills at a yield of 1.38%, receiving QR975 million of bids. Three-month bills were sold at 1.31% during April's auctions. According to bankers, the May auction roughly coincided with the maturation of QR1.5 billion.
Earlier, QCB had invited banks to bid for T-Bills worth QR2 billion. It cancelled monthly sales of T-Bills between January and March because of tightening liquidity in the banking system caused by low oil prices. Liquidity seems to have recovered to a certain extent since then.