Banks offered RON1.68 billion at today’s auction, but the ministry rejected all yields above 5.7% a year.
An escalated political crisis, which led to the President’s impeachment by parliament late last week, has put pressure on the Romanian national currency and raised borrowing costs.
Romania expects to sell RON2.25 billion in debt this month, higher than the RON1.4 billion sold in June.
So far in 2012, the country sold RON36.95 billion in leu-denominated state notes and $2.25 billion in US dollar-denominated bonds. (EUR1=RON4.5275)