The National Treasury Management Agency has completed an auction of Irish Treasury Bills, selling the target amount of €750m.

The NTMA said that total bids for the Treasury Bills came to €1.46 billion, which was 1.9 times the amount on offer. 

The Bills, which have a maturity of six months, were sold at a yield of -0.575%.

The NTMA has said it intends to borrow between €16 and €20 billion this year on behalf of the Exchequer.  

Last year it raised €24 billion at an average yield of 0.02%.