Serbia Sells 2.0 Bln Dinars (21.4 Mln Euro) in 6-mo T-bills

The average accepted price in the auction was equal to 94% of par and the accepted interest rate was 12.03%, the ministry said in a statement posted on its website.

The ministry sold 200,000 T-bills with a nominal value of 10,000 dinars each. The government securities will mature on March 18, 2010.

In the previous auction of six-month T-bills held on September 10 the ministry also sold its entire offer of 2.0 billion dinars worth of government securities at an annual interest rate of 12.03%.

Serbia holds scheduled auctions of six-month T-bills every week on Thursdays and of three-month T-bills on Tuesdays. It held its debut auction of 12-month T-bills last month in a bid to narrow the yawning budget gap. It held a second one on Wednesday.

The next auctions of three-month and six-month T-bills will be held on September 22 and September 24, respectively.

(1 euro=93.5115 dinars)