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ÁKK sells HUF 55 bln of three-month bills, more than planned

The Government Debt Management Agency (ÁKK) sold HUF 55 bln of discount three-month T-bills at auction today, raising its original offer by HUF 10 bln on strong demand, Hungarian news agency MTI reported.

Primary dealers bid HUF 117.9 bln for the securities. Average yield was 0.38%, 5 bps under the secondary market benchmark and 18 bps lower than the yield at the previous auction of the bills one week earlier.