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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.