Denmark sells 4.7bn DKK worth of t-bills at auction

COPENHAGEN: Denmark's central bank sold 4.7 billion Danish crowns ($781 million) worth of treasury bills at an auction on Wednesday after receiving bids worth 10.4 billion crowns.

The cut-off rate was -0.675 percent for the bills that mature in June 2018 and -0.650 percent for bills maturing in September 2018.

At its last auction on February 27, the bank sold t-bills worth 9.28 billion crowns.

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.