Dutch Auction

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Auction No	28 held on 6/14/2006
Total Amount Offered	US$ 20,000,000.00
Total Amount Demanded	US$ 0.00
Total Amount Sold	US$ 4,100,000.00
Highest Successfull Bid Rate	US$ 0.00
Lowest Bid Rate	0.00
No. of Successful	0
No. of Unsuccessful	0
Marginal Bid	US$ 0.00
Number of Banks	4
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Auction No	27 held on 6/12/2006
Total Amount Offered	US$ 80,000,000.00
Total Amount Demanded	US$ 80,000,000.00
Total Amount Sold	US$ 30,000,000.00
Highest Successfull Bid Rate	US$ 0.00
Lowest Bid Rate	0.00
No. of Successful	0
No. of Unsuccessful	0
Marginal Bid	US$ 0.00
Number of Banks	7
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Auction No	26 held on 6/7/2006
Total Amount Offered	US$ 150,000,000.00
Total Amount Demanded	US$ 150,000,000.00
Total Amount Sold	US$ 77,434,851.95
Highest Successfull Bid Rate	US$ 0.00
Lowest Bid Rate	0.00
No. of Successful	0
No. of Unsuccessful	0
Marginal Bid	US$ 0.00
Number of Banks	17
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Auction No	25 held on 6/5/2006
Total Amount Offered	US$ 80,000,000.00
Total Amount Demanded	US$ 80,000,000.00
Total Amount Sold	US$ 76,618,775.42
Highest Successfull Bid Rate	US$ 0.00
Lowest Bid Rate	0.00
No. of Successful	0
No. of Unsuccessful	0
Marginal Bid	US$ 0.00
Number of Banks	9
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Auction No	24 held on 5/31/2006
Total Amount Offered	US$ 80,000,000.00
Total Amount Demanded	US$ 0.00
Total Amount Sold	US$ 205,243,669.11
Highest Successfull Bid Rate	US$ 0.00
Lowest Bid Rate	0.00
No. of Successful	0
No. of Unsuccessful	0
Marginal Bid	US$ 0.00
Number of Banks	19
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Auction No	1001 held on 5/26/2006
Total Amount Offered	US$ 200,000,000.00
Total Amount Demanded	US$ 0.00
Total Amount Sold	US$ 118,500,000.00
Highest Successfull Bid Rate	US$ 0.00
Lowest Bid Rate	0.00
No. of Successful	0
No. of Unsuccessful	0
Marginal Bid	US$ 0.00
Number of Banks	20
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Auction No	23 held on 5/24/2006
Total Amount Offered	US$ 120,000,000.00
Total Amount Demanded	US$ 0.00
Total Amount Sold	US$ 64,258,233.65
Highest Successfull Bid Rate	US$ 0.00
Lowest Bid Rate	0.00
No. of Successful	0
No. of Unsuccessful	0
Marginal Bid	US$ 0.00
Number of Banks	20
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Auction No	22 held on 5/22/2006
Total Amount Offered	US$ 80,000,000.00
Total Amount Demanded	US$ 0.00
Total Amount Sold	US$ 164,775,833.90
Highest Successfull Bid Rate	US$ 0.00
Lowest Bid Rate	0.00
No. of Successful	0
No. of Unsuccessful	0
Marginal Bid	US$ 0.00
Number of Banks	16
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Auction No	21 held on 5/17/2006
Total Amount Offered	US$ 80,000,000.00
Total Amount Demanded	US$ 0.00
Total Amount Sold	US$ 87,710,569.74
Highest Successfull Bid Rate	US$ 0.00
Lowest Bid Rate	0.00
No. of Successful	0
No. of Unsuccessful	0
Marginal Bid	US$ 0.00
Number of Banks	13
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Auction No	20 held on 5/15/2006
Total Amount Offered	US$ 80,000,000.00
Total Amount Demanded	US$ 0.00
Total Amount Sold	US$ 74,454,007.88
Highest Successfull Bid Rate	US$ 0.00
Lowest Bid Rate	0.00
No. of Successful	0
No. of Unsuccessful	0
Marginal Bid	US$ 0.00
Number of Banks	15
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Facts : 1/16/2006
The Cowry:The Cowry has, for centuries, served our people as an important form of currency. In 1860 the following system was in use: 40 Cowries formed a "String"; 50 Strings made a "head" and 10 heads comprised a "bag". In Lagos in 1865 one bag of 20,000 shells was exchanged for one or two English Pounds.
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