ZAGREB: Croatia's Treasury bill sale surpassed targets at an auction on Tuesday with an unchanged yield, finance ministry data showed.
The ministry raised 643 million kuna ($97.59 million) against a 500 million target. Demand amounted to 724 million kuna, while 402 million worth of bills mature later this week.
The yield on one-year paper, which was the only one on offer this week, remained unchanged at 0.45 percent. The ministry also occasionally offers paper denominated in euros and bills with three-month and six-month maturities.
Some 70 percent of the paper was bought by local banks amid very good liquidity in the banking system.
After the auction, Croatia's short-term debt rose to 18.15 billion kuna from 17.9 billion. Its short-term debt in euros is 103.6 million euros.
The next T-bill auction is planned for June 27, when the ministry tentatively plans to raise 550 million kuna against 562 million worth of maturing bills.
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