The Most Successful Auction of Treasury Bills
On T-bills auction held on September 23, 2003, the Republic of Serbia sold the whole issue at the volume of 250.000.000 dinars. Demand for T-bills was on the highest level so far – even 517.100.000 dinars. Most of the T-bills were sold to banks (92%) and a rest of it to brokers and companies.
Increasing number of investors, which is bigger auction after auction, represents huge improvement. That implies that one of the goals of the Ministry of Finance and Economy – financial market development – is in the process of realization. Great demand for T-bills is also significant because it confirms that investors are regaining their confidence in the state. The Ministry of Finance and Economy expects that this trend shall continue in the following T-bills auctions.