Last week, the central bank bought RON6 billion worth of treasuries from 11 commercial lenders at an interest rate of 5.25% a year, equal to the monetary policy rate.
The lenders wanted to sell state paper worth RON15.3 billion, but the central bank has capped the repo in a move to drive overnight rates higher and help a weakening leu.
In August, the central bank has limited its repo operations for four consecutive weeks. The move has helped strengthen the leu after interbank rates increased slightly, but it also led to higher yields at state treasury auctions.
The Finance Ministry plans to sell 11-month paper worth RON1 billion at an auction later today. (EUR1=RON4.5687)