T-BILLS WORTH QR1.5 BIL­LION SOLD BY QCB

Qatar Today - - BUSINESS -

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.

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