Romania Rejects All Bids for 1-Yr T-bills

BNR auctions government securities on behalf of the Finance Ministry. Romania also rejected the bids placed at the previous auction of one-year Treasury bills, held on August 24.

The Finance Ministry has said it plans to issue 5.9 billion lei worth of government securities in September.

Romania sold government securities worth nearly 12 billion lei last year, up from 8.7 billion lei in 2007. It has sold 46.24 billion lei in government debt paper so far this year.

The country liberalised its capital market in 2006, giving foreign nationals free access to its government securities. Romania joined the European Union in 2007.

(1 euro = 4.2453 Romanian lei)