An auction was held on 21.6.2006 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £50.000.000 Treasury Bills with date of issue 22.6.2006 and 52 weeks maturity.
The total value of the bids submitted was £135.480.000. The competitive bids amounted to £114.000.000 and the non-competitive bids to £21.480.000. The total value of bids accepted was £50.000.000. The competitive bids accepted amounted to £37.500.000 while the non-competitive bids accepted amounted to £12.500.000.
The lowest and highest prices of the competitive bids accepted were £971,93 and £974,25 respectively for every £1.000 nominal value of Treasury Bills, representing annual yields of 2,90% and 2,65% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £12.500.000 were allotted at the weighted average price of the competitive bids accepted. This price was £972,95 per £1.000 nominal value representing an annual yield of 2,79%.