Home » Banking » Qatar central bank to offer 2bn riyals T-bills in auction

Qatar central bank to offer 2bn riyals T-bills in auction



Qatar’s central bank will offer 2 billion riyals ($550 million) of Treasury bills in an auction this week,
according to an invitation sent to banks.
Bids will be made on Monday while the results of the auction will be announced on Tuesday. The offer comprises 1 billion riyals of three-month bills, 500 million riyals of six-month bills and 500 million riyals of nine-month bills.
Between January and March, the central bank cancelled its monthly sales of T-bills because of tightening liquidity in the banking system due to low oil prices.
But since then, liquidity appears to have improved somewhat. On April 5, the central bank sold 1.5 billion riyals of three-, six- and nine-month T-bills.
The May auction roughly coincides with the maturation of 1.5 billion riyals of T-bills, bankers said.
The Qatar Central Bank was originally the Qatar Monetary Agency (and was known before that as Qatar Dubai Currency Board), founded on May 13, 1973.
Over its history the Qatar Central Bank has increasingly worked in association with other, larger central banks to achieve a stable currency for the country, most recently and notably with the Monetary Authority of Singapore.

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