Yields rise to 9.30% as BoA auctions 108 million euro in treasury bills

TIRANA, September 7–Albania’s central bank said it has sold 14.4 billion Lek (108.4 million euro) in three-month and 12-month Treasury bills, down from the combined offer of 16.2 billion Lek, as yields rose, the bank said.
The auction was held on September 1, the central bank, which auctions government securities on behalf of the Finance Ministry, said in a statement on its website.
The Bank of Albania sold the entire offer of 5.7 billion ̽Lek in three-month T-bills, as dealers placed bids worth of 5.754 billion Lek. The T-bills produced a weighted average yield of 6.34%, up from 6.31% achieved in the previous auction held on August 4.
Dealers placed bids worth 11.82 billion Lek for 12-month T-bills against 10.5 billion Lek on offer, but the Finance Ministry approved bids only for 8.7 billion Lek. Yields edged up to 9.30%, from 9.29% in the previous auction held on August 18.
The Bank of Albania has auctioned Treasury bills worth 262 billion Lek since the beginning of the year. It auctioned T-bills worth 373 billion Lek in par value last year, compared to 386.83 billion Lek in 2007.