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Government's 91-day and 182-day treasury bills oversubscribed

 
The Ministry of Finance says investors submitted bids of $1.9 billion for its 91-day treasury bill, from which it sought just $700 million to help fund this year's budget.
 
The Ministry says the average interest rate sought by investors was 5.2 per cent.
 
It also reports bids of $3.1 billion for its 182-day treasury bill, again seeking only $700 million. 
 
The average rate was also 5.2 per cent.
 
These sums form part of the $158.4 billion the Government plans to borrow this fiscal year, in addition to $949.5 billion in tax revenues and $132 billion in non-tax revenues.


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