Purchase TB subscriptions as well as the amount of maturing TBs witnessed a slight drop on the February 22nd auction to LP347.36 billion ($230.4 million) and LP260.69 billion ($172.9 million) respectively, thus resulting in a LP102.3 billion ($67.8 million) purchase surplus.
Although banks, the major subscriber of TBs, have few alternative uses for their LP funds, policies that would be viewed as unhelpful to the local currency could result in lower purchases. The different TBs’ share of subscriptions was shuffled on February 22nd with the 24-M TB capturing investors’ attention as it grabbed 40.38 percent of purchases, while the 12-M TB’s share of subscriptions lost 5 percentage points to account for 22.34 percent of the total. The 6-M and 3-M TBs represented 14.07 percent and 23.21 percent of purchases respectively. — ( Banque du Liban et d'Outre-Mer Sal )
© 2001 Mena Report (www.menareport.com)
