Treasury bills (T-bills) worth MVR 2.2 billion have been put up for sale.
The Finance Ministry is seeking to sell four T-bills: a T-bill worth MVR 490 million with a 28-day repayment period, an MVR 254-million T-bill with a 98-day repayment period, an MVR 240 million T-bill with a repayment period of 182 days, and a T-bill worth MVR 1.3 billion with a repayment period of 364 days.
The settlement date for the T-bills is January 16.
The interest rate on the T-bills ranges from 3.50 percent to 4.60 percent. The current interest rates on T-bills in the Maldives are 3.50 percent for one month. A three-month T-bill is selling at 3.87 percent, while a six-month T-bill is selling at 4.23 percent. One-year T-bills are selling at 4.6 percent.
The T-bills sold by the government are bought by the Pension Fund, some banks, and some government-owned companies. Some private companies also buy T-bills.
