An auction was held on 7.7.2006 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £75.000.000 Treasury Bills with date of issue 10.7.2006 and 52 weeks maturity.
The total value of the bids submitted was £244.628.000. The competitive bids amounted to £241.000.000 and the non-competitive bids to £3.628.000. The total value of bids accepted was £75.000.000. The competitive bids accepted amounted to £71.372.000 while the non-competitive bids accepted amounted to £3.628.000.
The lowest and highest prices of the competitive bids accepted were £971,17 and £974,25 respectively for every £1.000 nominal value of Treasury Bills, representing annual yields of 2,98% and 2,65% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £3.628.000 were allotted at the weighted average price of the competitive bids accepted. This price was £971,98 per £1.000 nominal value representing an annual yield of 2,89%.