Government to Sell MVR 2.2 Billion in T-bills

Treasury bills (T-bills) worth MVR 2.2 billion have been opened for sale in order to cover government expenditures.

The Finance Ministry has proposed an MVR 894.8 million T-bill with a 28-day repayment term and an MVR 146 million T-bill with a 98-day repayment term. There is also an MVR 130 million T-bill with a repayment term of 82 days and an MVR 1 billion T-bill with a repayment term of 364 days.

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T-bill interest rates range from 3.50 percent to 4.60 percent.

T-bill interest rates in the Maldives are currently 3.50 percent for one month. A three-month T-bill yields 3.87 percent, while a six-month T-bill yields 4.23 percent. One-year T-bills are selling for 4.6 percent.

T-bills are typically purchased by the pension fund, banks, government-owned companies, as well as some private companies. The funds raised from the issuance of government securities are utilised to meet the government’s budget financing requirements.

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