The Central Bank of Jordan (CBJ) said that it has invited offers for six month treasury bills worth 100 million dinars ($141 million).

CBJ, acting on behalf of the government, will auction the bills to banks, investment and pension funds today, and settlement will be a day later, according to a report in our sister newspaper Gulf Daily News.

The bills, which are open to local and foreign investors via banks, mature on February 26, next year.

The average yield on six month T-bills rose to 3.058 per cent at an auction on August 19, compared to 3.028 per cent at the previous auction on August 5.

The monetary authorities have resorted this year to issuing more T-bills and bonds to finance growing public debt. The CBJ cut reserve requirements on commercial deposits, stopped issuing certificates of deposit since October last year and cut major benching rates to free up funds for lending to spur growth.

CBJ data shows that compulsory reserves of private banks' foreign and domestic currency deposits that are held with central bank stood at 1.037 billion dinars yesterday.