DUBAI – Qatar’s central bank said on Thursday it sold 1.4 billion riyals ($385 million) of Treasury bills in a monthly auction, with yields at the long end of the curve falling compared to the previous month.
The drop at the long end suggested concern about access to funding by Qatari banks was easing. It increased after four other Arab states imposed sanctions on Qatar in June, triggering a pull-out of deposits from the banks, but the latest data shows the outflow has largely run its course, while the banks have been finding other sources of funding.
The bank sold 550 million riyals of three-month bills at a yield of 2.26 percent, 750 million riyals of six-month at 2.45 percent and 100 million riyals of nine-month at 2.52 percent.
Last month, it sold 500 million riyals of three-month bills at 2.26 percent, 350 million riyals of six-month at 2.47 percent and 150 million riyals of nine-month at 2.60 percent.