Banks offered RON1.56 billion at today’s auction, central bank data showed.
At the latest similar auction August 13, the ministry sold a planned RON700 million of eight-month paper at an average yield of 5.91% a year.
The ministry expects to sell RON3.3 billion in debt this month, up from RON1.4 billion sold in August. The ministry rejected all bids received at three out of five auctions last month, due to high yields.
Romania sold debt at increasingly lower yields in the first months of 2012, but the trend reversed after the central bank halted a monetary easing cycle, citing uncertainties on external markets and political tensions at home.
So far in 2012, Romania sold almost RON40 billion in leu-denominated state notes and $2.25 billion in US dollar-denominated bonds. (EUR1=RON4.4898)