The Ministry of Finance has issued an invitation to subscribe to treasury bills worth over MVR 2 billion.
According to the notice publicised by the Ministry on Wednesday, the government is offering treasury bills, or T-bills, worth about MVR 2.02 billion.
The T-bills up for subscription include:
- an MVR 40 million T-bill which matures in 28 days,
- an MVR 240 million T-bill which matures in 98 days,
- an MVR 135 million T-bill which matures in 182 days, and
- an MVR 1.6 billion T-bill which matures in 364 days.
The interest range for the securities range from 3.50 percent to 4.60 percent.
Treasury bills are a financial instrument sold by central banks to meet government budget financing requirements with a fixed interest rate and a maturity period of less than one year.