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TIRANA, Oct. 17 – The central Bank of Albania organized Tuesday an auction for the sale of 3-month treasury bills with a cumulative offer of 4.5 billion lek ($45.7 million/36.5 million euro). The bank serves as a direct operative partner of the Ministry of Finance. The 3-month t-bills are considered by many as the most risk free investment option, thus a good source of portfolio diversification. The bank uses the T-bill sale, a generic open market operation, as an indirect measure of concretionary monetary policy to control the money supply, stabilize the rate of inflation and influence the general money market.The result of the auction was a 3.5 billion lek sale and an unchanged yield of 6.16% from the previous auction held last week.
