An auction was held on 13.8.2003 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £25.000.000 Treasury Bills with date of issue 14.8.2003 and 52 weeks maturity.
The total value of the bids submitted was £56.300.000. The competitive bids amounted to £43.000.000 and the non-competitive bids to £13.300.000. The total value of bids accepted was £25.000.000. The competitive bids accepted amounted to £11.700.000, while the non-competitive bids accepted amounted to £13.300.000.
The lowest and highest prices of the competitive bids accepted were £965,01 and £965,20 respectively for every £1.000 nominal value, representing annual yields of 3,65% and 3,63% respectively. In accordance with the published terms of the auction non-competitive bids amounting to £13.300.000 were accepted at the weighted average price of the accepted competitive bids. This price was £965,12 per £1.000 nominal value representing an annual yield of 3,63%.