Denmark sells 7.84bn DKK worth of T-bills at auction

COPENHAGEN: Denmark's central bank sold 7.84 billion Danish crowns ($1.23 billion) worth of treasury bills at an auction on Monday after receiving bids worth 9.68 billion crowns.

The cut-off rate was -0.67 percent for the bills that mature in March 2018.

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