The ministry planned to sell RON500 million of state paper at Monday’s tender. Banks offered RON1.14 billion, central bank data showed.
At the latest similar auction August 16, 2010, the ministry sold roughly RON284 million in nine-month paper at an average yield of 7% a year.
The ministry wants to sell debt worth RON4.7 billion in September, up from roughly RON2.6 billion sold a month earlier.
So far this year, Romania sold around RON41.35 billion (EUR9.6 billion) in leu-denominated state notes. Additionally, two foreign currency bond auctions have brought the ministry EUR1.4 billion, while an international debt sale early June raised EUR1.5 billion. (EUR1=RON4.294).