Croatia sells more T-bills than planned, yield falls further

ZAGREB: Croatia sold 1.4 billion kuna ($230.86 million) worth of one-year treasury bills on Tuesday, considerably beating its target, and the yield fell further, Finance Ministry data showed.

The yield fell four basis points to 0.10 percent. The original target at the auction was to raise 900 million kuna.

The bids amounted to 3.77 billion kuna as local liquidity has been persistently smooth in recent period. Slightly above 50 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, but the one-year kuna bills have been mostly in focus in recent months.

The next auction is planned for Jan. 30, 2018.