The ministry planned to sell RON1.5 billion in paper at Monday’s auction. Banks offered RON3 billion and the ministry rejected all yields above 6.92% a year.
At the previous similar auction April 11, the ministry sold roughly RON2.3 billion in one-year paper at an average annual yield of 6.84%.
The ministry plans to sell debt worth RON4.8 billion in May, down from RON6.1 billion sold a month earlier. Additionally, a three-year foreign currency auction due Wednesday is expected to bring the ministry at least EUR600 million.
So far this year, Romania sold RON22 billion in state notes. (EUR1=RON4.086)