Romania Sells 850.3 Mln Lei (198 Mln Euro) in 6-mo T-bills, Yields Flat

The average yield was 9.97%, unchanged from the auction held on September 28, the BNR, which sells government securities on behalf of the Finance Ministry, said in a statement. Romania rejected all bids for six-month T-bills at the previous auction held on October 5.

Bids were placed for 1.8 billion lei worth of T-bills in Monday's auction. The average accepted price was equal to 95.2031% of par.

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

Romania has sold 50.17 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 = 4.2849 Romanian lei)