BUCHAREST (Romania), September 14 (SeeNews) – Romania sold on Monday 1.27 billion lei ($431 million/297 million euro) in six-month Treasury bills, versus 1.1 billion lei on offer, the country's central bank, BNR, said.
The average yield was 9.92%, compared to 10.45% in the previous auction held on August 17, the BNR, which sells government securities on behalf of the Finance Ministry, said in a statement.
Bids were placed for 2.4 billion lei worth of T-bills in Monday's auction. The average accepted price was equal to 95.2201% of par.
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 47.51 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 = 4.2772 Romanian lei)