Gov't sells MVR 2.2 bln in T-bills

The government has sold MVR 2.2 billion in Treasury bills.

The Finance Ministry said it sold T-bills worth MVR 912.8 million, MVR 230 million, MVR 100 million, and MVR 980.5 million. The interest rate on the T-bills ranges from 3.50 percent to 4.60 percent.

The T-bill worth MVR 912.8 million was sold at an interest rate of 3.50 percent with a 28-day repayment period. The MVR 230 million T-bill was sold at an interest rate of 3.87 percent with a repayment period of 98 days.

The Finance Ministry sold an MVR 100 million T-bill with 183 days repayment at an interest rate of 4.23 percent. The T-bills worth MVR 980.5 million were sold at an interest rate of 4.60 percent with one-year repayment.

The Finance Ministry has also announced the sale of T-bills worth MVR 1.7 billion. These include an MVR 554 million T-bill with a 28-day repayment period and an MVR 44 million T-bill with a 98-day repayment period. In addition, T-bills of MVR 233 million with 183 days repayment and MVR 885.6 million with one-year repayment have been announced.

The T-bills sold by the government are mostly purchased by the Pension Fund, some banks, and government-owned companies. In addition, some private companies also buy T-bills.