March 9, 2016 / 9:29 AM / a year ago

Denmark sells 9.6 bln DKK worth of T-bills at auction -c.bank

COPENHAGEN, March 9 (Reuters) - Denmark's central bank sold 9.6 billion Danish crowns ($1.4 billion) worth of treasury bills at an auction on Wednesday after receiving bids worth 17.04 billion crowns.

The cut-off rate was -0.47 percent for bills which are maturing in June 2016 and -0.46 for bills maturing in September 2016.

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

$1 = 6.7996 Danish crowns Reporting by Teis Jensen; editing by Nikolaj Skydsgaard

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