The ministry wanted to sell paper worth RON500 million. Banks offered RON736.6 million, but the ministry rejected all yields above 6.45% a year, central bank data showed.
At the latest similar auction November 8, the ministry sold a planned RON500 million of two-year paper at an average yield of 6.34% a year.
The ministry plans to sell state paper worth RON3.55 billion in November, slightly up from RON3.13 billion in the previous month.
So far in 2012, Romania sold on the local market RON49.4 billion in leu-denominated state notes and EUR763.3 million from tapping two existing foreign currency bonds, due 2014 and 2015, respectively.
Additionally, Romania tapped international debt markets for $2.25 billion at two US dollar-denominated bond sales and raised another EUR2.25 billion via two Eurobonds. (EUR1=RON4.5349)