The ministry planned to sell RON600 million worth of paper at today’s auction. Banks offered RON1.3 billion, central bank data showed.
The latest similar auction was held in March 2012, when the ministry sold RON474 million of 10-year paper at 6.75% annual average yield.
The ministry sold RON11.38 billion in leu-denominated state bonds in January, well above its RON4.6 billion target, as yields continued a decline started in the last month of 2012.
Also this month, the ministry raised EUR502.5 million at a three-year euro-denominated sale on the local market, more than threefold the planned amount, at an average yield of 3.14% a year, also a record low for that type of state notes.
Investor appetite improved significantly in January after JP Morgan Chase announced earlier that Romanian bonds were eligible for entry in its GBI-EM local markets index as of March 1.