Nigeria sold 134.6 billion naira ($862.8 million) of treasury bills in an auction at its open- market operations.
The Central Bank of Nigeria yesterday auctioned 59.4 billion naira of 258-day bills at 15.25 percent and 75.2 billion naira of 335-day debt at 15.37 percent, it said in an e-mailed statement today. Bids totaled 296.8 billion naira, more than double the amount on offer.
Open-market operations are used by the Abuja, Nigeria-based bank to control short-term interest rate and money supply in the economy.
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