Treasury bills
PA Wellington The Reserve Bank entered the short-term money market yesterday morning to sell 570 M of short-dated Treasury bills.. It sold SSOM of nine-day bills at an average interest rate of 17.24 per cent and S2OM of 10-day bills at an average of 18.05 per cent. The sales were part of the bank’s daily management of the short-term market which sees the bank sell bills on days when the banking system appears to have cash surplus to its needs. On Tuesday at the weekly Treasury bill tender, the Reserve Bank sold SIOOM of seven-day bills at an average rate of 18.007 per cent. This was up from 17-641 per cent on 14-day bills last week and on 16.218 per cent when seven-day bills were last sold two weeks ago. Yesterday’s yields were lower than Tuesday’s for the nine-day bills but were steady for the 10day bills.
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Press, 20 February 1986, Page 26
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149Treasury bills Press, 20 February 1986, Page 26
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