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ICU
Research Team

Bond Market Insight -- MoF preparing for repayments

After a break, the MoF held another unscheduled auction yesterday offering two-month, local-currency bills, and three bills denominated in US dollars with four-month, eight-month, and 16-month maturities. FX reserves were increased in government accounts prior to large repayments scheduled for the next two weeks; however, this auction will not solve all the MoF's FX needs.

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