BUSINESS

Finances raised RON 791.45 M from banks on Monday

The Ministry of Public Finance (MFP) on Monday borrowed a total of RON 791.45 M from banks by selling treasury bills maturing in six months, almost 20 per cent less than expected – EUR 1 bln, at an yield of 6.96 per cent per annum, lower than the one offered at the previous auction for similar securities, Mediafax reports. The total value of bank demand amounted to RON 1.89 bln, but the ministry turned down all bids requesting a yield above 7 per cent per annum. The auction held on Monday was the first in the last months where the yield of government securities dropped to less than 7 per cent.

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