Croatia sells bills above target, yield inches down

ZAGREB: Croatia sold 1.2 billion kuna ($201 million) worth of one-year treasury bills on Tuesday - above its 800 million kuna target - while the yield inched down, Finance Ministry data showed.

The yield fell one basis point to 0.09 percent.

The bids amounted to 2.49 billion kuna amid persistently good local liquidity in recent weeks. More than 75 percent of the bills were taken by banks.

The ministry occasionally also auctions bills with 3-month and 6-month maturities as well as those denominated in euros.

After the auction the overall Croatia's short-term debt in the local currency rose to 18.23 billion kuna from 17.83 billion.