November 29, 2016 / 9:26 AM / 9 months ago

Denmark sells 8.06 bln DKK worth of t-bills at auction

COPENHAGEN, Nov 29 (Reuters) - Denmark's central bank sold 8.06 billion Danish crowns ($1.15 billion) worth of treasury bills at an auction on Tuesday after receiving bids worth 11.92 billion crowns.

The cut-off rate was -0.72 percent for the bills that mature in March 2017.

The cut-off rate was -0.68 percent for the bills that mature in June 2017.

At its last auction on November 9, the bank sold 3.5 billion crowns worth of Treasury 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.

$1 = 7.0259 Danish crowns Reporting by Teis Jensen, editing by Nikolaj Skydsgaard

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