The Central Bank's issue of 12 billion rupees Treasury Bills at the weekly auction on Wednesday for the week ending 21 October 2011 was oversubscribed.

At the weekly primary auction, the re-issue of Rs.12 billion maturing Treasury bills was oversubscribed with bids amounting Rs. 15,947 million being received, the Central Bank said.

The Bank has decided to accept Rs. 6,828 million from the auction.

The details of the auction are as follows: for 91-day T-bills accepted Rs. 3.039 billion at 7.24% interest rate, 182-day T-bills accepted Rs. 1.855 billion at 7.29% and 364-day T-bills Rs. 1.934 billion at 7.36%.