Albanian 3-Month T-Bills Oversubscribed, Yields Rise

TIRANA, Aug. 8 – Yields rose on the Albanian three-month Treasury bills in an auction on Tuesday, as the issue was oversubscribed, the central bank said. The Bank of Albania, which auctions government securities on behalf of the Finance Ministry, offered and sold out 2.03 billion leks ($21.3 million/16.6 million euro) worth of three-month government paper, as dealers placed bids for 2.46 billion leks. The T-bills yielded an average 5.44%, up from 5.33% in the previous auction last week. The central bank auctions lek-denominated three-month T-bills on Tuesdays and six- and 12-month T-bills twice a month, also on Tuesdays. The Bank of Albania has auctioned 278.09 billion leks worth of T-bills since the beginning of the year. Last year it auctioned 465.2 billion leks worth of government securities.