Denmark sells 5.0bn DKK worth of T-bills at auction

COPENHAGEN: Denmark's central bank sold 5.0 billion Danish crowns ($765.6 million) worth of treasury bills at an auction on Wednesday after receiving bids worth 6.82 billion crowns.

The cut-off rate was -0.54 percent for the bills which are maturing in September 2016.

The central bank has been using T-bill auctions as one tool to control the rate of the Danish crown, which is pegged to the euro, at times declining bids when it has deemed the currency too strong.