The Central Bank of Bahrain (CBB) has announced that this week's BD15 million issue of government treasury bills has been oversubscribed by 393 per cent.

The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the kingdom.

The issue date of the bills is tomorrow and the maturity date is August 13. The weighted average rate of interest is 1.98 per cent, compared with 2 per cent for the previous issue on May 7. The approximate average price for the issue was 99.502 per cent with the lowest accepted price being 99.497 per cent.-TradeArabia News Service