Banks offered RON2.23 billion, but the ministry rejected all yields above 5.6% a year, central bank data showed.
At the latest similar auction March 5, the ministry sold RON1.57 billion in two-year paper at an annual yield of 5.99%.
The ministry plans to sell debt worth RON4.25 billion in April, down from RON7.86 billion sold a month earlier.
So far in 2012, Romania sold RON26.85 billion (EUR6.1 billion) in leu-denominated state notes. Additionally, the ministry sold $2.25 billion in 10-year US dollar-denominated bonds on the US market. (EUR1=RON4.3786)