The National Treasury Management Agency auctioned €500 million worth of Treasury bills today.

In a statement, the NTMA said the auction received bids which totalled €2.06 billion, more than four times the amount on offer.

The bills were sold at an annualised yield of 0.55 per cent and have a maturity of three months.

The rate was slightly lower than at a similar auction last month, when securities were sold at a yield of 0.7 per cent.