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Qatar Central Bank T-Bills auction covered almost three times over

September 4, 2014

Qatar Central Bank (QCB) announced Wednesday the results of the Treasury Bills auction it held on 2 September showing that the Central Bank covered the amount auctioned by almost triple the amount.

The total amount allotted by Qatar Central Bank for the all of the Treasury Bills offered was QAR 4 billion. Bids reached a total of more than QAR 11 billion. The figures reflected a bid to cover ratio of 2.8, which reflects strong demand. The QCB auctioned three short-term Treasury Bills; the 3-month, 6-month and 9-month T-Bills. The maturity date for the 3-month T-Bills is on 2 December this year. Its yield will be 0.71 per cent.

The two other Treasury-Bills will mature in 2015. The 6-month T-Bill is set to mature on 3 March 2015 while the 9-month treasury bills have a maturity date of 2 June 2015. Their yield will be at 0.89 per cent and 0.99 per cent respectively.

Half of the amount is allotted for the 3-month treasury bills. The remaining QAR 2 billion was equally divided between the 6-month and 9-month T-Bills. The total amount bid for the 3-month T-Bills according to the Central Bank was QAR 4,440,000,000. Both the 6-month and 9-month Treasury Bills had bids worth QAR 3,400,000,000 each.

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Source: CPI Financial

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