Romania Rejects All Bids for 1-yr T-bills

BNR auctions government securities on behalf of the Finance Ministry.

In the previous auction of one-year Treasury bills, held on October 19, the BNR sold 222 million lei worth of government paper, below the target offer of one billion.

The Finance Ministry has said it plans to issue 6.0 billion lei worth of government securities in October.

Romania has sold 50.98 billion lei in government debt paper so far this year. It sold government securities worth nearly 12 billion lei last year, up from 8.7 billion lei in 2007.

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

(1 euro = 4.2891 Romanian lei)