In an effort to cover government expenses, the Finance Ministry has announced the sale of T-bills valued at MVR 4.2 billion. This includes MVR 2.2 billion in T-bills with a 28-day repayment period and MVR 263.4 million in T-bills with a 98-day repayment term.
In addition, this includes MVR 69 million in T-bills with a 182-day repayment period and MVR 1.7 billion in T-bills with a 364-day repayment period.
Interest rates on these T-bills range from 3.50% to 4.60%.
Typically acquired by the pension fund, banks, government-owned companies, and some private firms, these short-term government securities are offered at a discounted price in the local currency, serving as a financial tool to manage government finances.