An auction was held on 7.6.2005 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £90.000.000 Treasury Bills with date of issue 9.6.2005 and 52 weeks maturity.
The total value of the bids submitted was £127.000.000. The competitive bids amounted to £115.000.000 and the non-competitive bids to £12.000.000. The total value of bids accepted was £90.000.000. The competitive bids accepted amounted to £78.000.000 while the non-competitive bids accepted amounted to £12.000.000.
The lowest and highest prices of the competitive bids accepted were £957,16 and £958,34 respectively for every £1.000 nominal value, representing annual yields of 4,42% and 4,36% respectively. The weighted average price of the competitive bids accepted was £958,00 per £1.000 nominal value representing an annual yield of 4,40%.