Romania Sells 815.3 Mln Lei (189 Mln Euro) in 6-mo T-bills, Yields Edge Up

The average yield was 10%, up from 9.97% at the previous auction held on October 12, the BNR, which sells government securities on behalf of the Finance Ministry, said in a statement.

Bids were placed for 2.0 billion lei worth of T-bills in Monday's auction. The average accepted price was equal to 95.1872% of par.

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

Romania has sold 51.795 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 = 4.3057 Romanian lei)