Mauritius rejects 91-day T-bills for fourth week

13 years ago - March 11, 2011

Bank of Mauritius rejected for a fourth consecutive week all bids for its 91-day Treasury bills on Friday but sold 1.2 billion rupees ($41 million) worth of 182- and 364-day bills, at a bank rate of 2.32 percent.

Offers for the 91-day paper totaled 245 million rupees. The bids ranged between 2.30 percent and 1.40 percent.

The central bank was not immediately available for comment on the outcome of the auction.

Yields on the three-month paper sank to a record low on Feb. 4 and then fell further to 1.73 percent four weeks ago.

Mauritius' central bank said on Wednesday it would list 10 million rupees worth of 364-day Treasury Bills on the stock exchange from March 14.

Mauritius is mulling a cap on how much commercial banks can hold in Treasury bills to encourage them to lend to companies and households instead.

Official results by BOM (.pdf)

Text by Reuters

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