An auction was held on 2.7.2003 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £35.000.000 Treasury Bills with date of issue 2.7.2003 and 52 weeks maturity.
The total value of the bids submitted was £23.770.000. The competitive bids amounted to £15.000.000 and the non-competitive bids to £8.770.000. All bids were accepted.
The lowest and highest prices of the competitive bids accepted were £964,89 and £965,36 respectively for every £1.000 nominal value, representing annual yields of 3,66% and 3,61% respectively. In accordance with the published terms of the auction non-competitive bids amounting to £8.770.000 were accepted at the weighted average price of the accepted competitive bids. This price was £965,20 per £1.000 nominal value representing an annual yield of 3,63%.