Dhaka, Bangladesh (BBN) – The central bank of Bangladesh withdrew BDT 8.60 billion using its 30-day bills Thursday to mop up excess liquidity from the market, officials said.

Six bids amounting total of BDT 8.60 billion were offered and all the bids were accepted. The rate of weighted average yield of the accepted bids was 3.25 per cent, according to the auction result.

The central bank resumed the auction of 30-day Bangladesh Bank (BB) Bills on October 26 aiming to mop up surplus liquidity from the market.

The BB reintroduced 30-day and 91-day Bangladesh Bank Bills in October 2006 as monetary policy instruments following decision that the government treasury bills and the bond auctions are exclusively used for the government debt management.

However, the auction of 91-day Bangladesh Bank Bills was discontinued to avoid duplication with 91-day Treasury Bills from January 8, 2008.

BBN/SSR/AD