T-bill yield rises to 4.16pc ‘Mauritius’

PORT LOUIS: The weighted average yield on Mauritius' 91-day Treasury bills rose to 4.16 percent on Friday from 4.12 percent at the previous sale, the Bank of Mauritius said.

The bank sold 600 million rupees ($21.20 million) worth of bills of three maturities on offer.

The cap on the amount of liquid assets lenders can invest in short-term Treasury bills was lowered to 18 percent this month from 20 percent last month, to encourage banks to increase lending to businesses.

The central bank sold 350 million rupees worth of 91-day paper, 20 million rupees of 182-day bills at a weighted yield of 4.41 percent and 230 million rupees worth of 364-day bills at 4.74 percent. The bank rate posted was 4.39 percent.

Copyright Reuters, 2011