ZAGREB: Croatia sold 313 million kuna ($49.63 million) worth of bills at an auction on Tuesday, well below its 600-million-kuna target, finance ministry data showed.
Despite good local liquidity, bids were modest amid low yields, the latest in a series of weak sales.
The strongest demand was for six-month bills - the ministry sold 200 million kuna worth. The yield fell to 0.06 percent from 0.25 percent when the six-month paper was last auctioned on Aug. 22, 2017.
The ministry also sold 113 million euros of one-year paper at a flat yield of 0.09 percent.
No three-month paper was sold amid low demand of just five million kuna.
The ministry occasionally also auctions the bills denominated in euros.
After the auction, Croatia's overall short-term debt in the local currency fell to 18.23 billion kuna from 18.56 billion.
The next auction will be held on June 26.
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