Auction Of T-Bonds (Dirham)

On Saturday, the UAE Ministry of Finance announced that a second auction of federal treasury bonds will take place on June 20. AED1.5 billion will be auctioned off in two tranches: AED750 million which means $204 million for two years and AED750 million for three years. At an effort to boost secondary market liquidity, it was expected that the re-opening of bonds will be used in this auction to increase the number of individual bonds released.....