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4 months ago
Denmark sells 1 bln DKK worth of T-bills, refuses bid for Sept bills
April 10, 2017 / 8:31 AM / 4 months ago

Denmark sells 1 bln DKK worth of T-bills, refuses bid for Sept bills

COPENHAGEN, April 10 (Reuters) - Denmark's central bank sold 1.0 billion Danish crowns ($142.32 million) in one treasury bill while refusing bids for another at an auction on Monday after receiving bids worth 3.8 billion crowns in total.

The cut-off rate was -0.69 percent for the bills that mature in June 2017. It did not accept any bids for another t-bill maturing in September.

The central bank has at times used T-bill auctions as one tool to control the exchange rate of the Danish crown, which is pegged to the euro, by declining bids when it has deemed the currency too strong.

$1 = 7.0264 Danish crowns Reporting by Stine Jacobsen, editing by Teis Jensen

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