The Ministry of Public Finance (MFP) sold six-month Treasury certificates worth RON 1.34 bln, more than the originally planned RON 1 bln, at an average yield of 9.24 per cent, the lowest level in two years, according to a ministerial press release. The maximum yield accepted was of 9.25 per cent, and the demand for state bonds from commercial banks amounted to RON 3.76 bln. Yesterday’s auction was the first this year for six-month certificates and the second for state bonds respectively. MFP borrowed RON 565 M January 7 by selling three-year state bonds. At the most recent auction held for selling six-month state bonds, December 28 of last year, the Treasury borrowed RON 785 bln, at an average yield of 10 per cent.
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