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10-04-23
Qatar Central Bank's Treasury Bills, Sukuk Attract High Demand
(MENAFN) The Qatar Central Bank's issuance of treasury bills and sukuk on Thursday saw a surge in demand, with bids reaching 9.7 billion qatari riyals (USD2.66 billion), compared to 4.58 billion riyals in the previous month. The securities offered a variety of tenors, ranging from one week to nine months, with 1 billion riyals allocated to each period. The total amount reached for the issuance in April was 5 billion riyals.
In a tweet, the bank reported that the one week tenor had an interest rate of 5.255 percent, while the one month offering was set at an interest rate of 5.3125 percent. The bank also set a 5.395 percent interest rate for the three months tenor, a 5.4525 percent rate for the six months, and a 5.5 percent rate for the nine months.
Compared to the auction held on March 9, the results of the latest issuance were significantly higher. The March auction allocated 1 billion riyals for the one week period and 500 million riyals for the remaining tenors.
The high demand for the treasury bills and sukuk is a positive sign for the Qatari economy, as it indicates investor confidence in the stability of the financial system. The securities offer attractive returns for investors, particularly for those seeking short-term investments. The issuance also provides the Qatar Central Bank with an opportunity to raise funds to support the government's development plans and infrastructure projects.
Overall, the strong demand for the treasury bills and sukuk issued by the Qatar Central Bank is a testament to the country's strong economic fundamentals, and it is expected that the demand will continue to remain high in the future.
MENAFN10042023000045014228ID1105970305
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