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Oct 04, 2007 15:41 EEST
October 4 (SeeNews) - Romania's central bank, BNR, rejected all bids worth 743.5 million lei ($310.8 million/220.2 million euro) in Thursday's auction of 500 million lei of 10-year Treasury notes, BNR figures showed.
The central bank auctions government securities on behalf of the finance ministry. In the previous auction of 10-year T-notes held on September 6, Romania sold 100 million lei of government securities, as yields fell to 6.70% from 6.73%%.
Romania's Finance and Economy Ministry has said plans to issue 4.2 billion lei worth of government securities in the fourth quarter of 2007 to finance and refinance public debt. In October only, the ministry plans to auction 800 million lei worth of government securities. The ministry has sold government securities worth some 8.3 billion lei at the auctions held by the central bank so far this year.
Romania, which joined the EU in January, liberalised its capital market last year, allowing foreign nationals to buy its government securities. The country set a ceiling of 4.4 billion euro ($6.2 billion) for the government's foreign borrowing in the current year and a domestic borrowing ceiling of 19 billion lei.
(1 euro = 3.3757 Romanian lei)
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