ZAGREB: Croatia will offer investors’ treasury bills worth 300 million kuna ($55 million) and 15 million euros ($21 million) at two separate auctions on Oct. 18, the finance ministry said on Friday.
The ministry will offer 50 million kuna in six-month and 250 million kuna in one-year paper, as well as five million euros in three-month and 10 million euros in one-year bills.
Foreign investors can take part in Treasury bill auctions through a custodial account registered with a local bank.
At the previous auction, held two weeks ago, the ministry raised 455 million kuna and 28.6 million euros, with higher yields.
The benchmark overnight rate on the local money market was quoted at 3.89 percent on Thursday, while the one-year rate was 5.99 percent.
Money market yields have been rising in recent weeks following the central bank's measures to counter depreciation pressures on the kuna by squeezing local liquidity.
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