Denmark sells 2.56bn DKK worth of T-bills at auction

COPENHAGEN: Denmark's central bank sold 2.56 billion Danish crowns ($386 million) worth of Treasury bills at an auction on Wednesday after receiving bids worth 4.22 billion crowns.

The cut-off rate was -0.665 percent for the bills that mature in September 2017 and -0.660 percent for bills maturing in December 2017.

At its last auction on May 30, the bank sold 3.68 billion crowns worth of T-bills.

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.