ZAGREB: Croatia sold 414 million kuna ($69.13 million) worth of one-year treasury bills on Tuesday, with the yield flat at 0.09 percent for the seventh consecutive auction, Finance Ministry data showed.
The sale fell short of the ministry's target for the second auction in a row. This time the target was set at 550 million kuna. Banks bought a touch below 50 percent of the paper.
"Despite smooth liquidity, the yield is quite unattractive for investors," a market participant from a major local bank said.
The ministry occasionally also auctions bills with 3-month and 6-month maturities as well as those denominated in euros.
After the auction, Croatia's overall short-term debt in the local currency fell to 19.54 billion kuna from 19.68 billion kuna.
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