Yields in Albanias latest T-bills auction decline.

By bne IntelliNews November 30, 2012
Albanias central bank sold ALL 8bn (EUR 57.2mn) worth of T-bills at an auction on November 27 as yields dropped, the bank said in a statement on its website. The bank floated ALL 5.7bn in 12-month bills in line with the initial offer. Investors demand reached ALL 8bn, which corresponded to a healthy 1.4 coverage ratio. The average yield dropped to 6.22% from 6.41% in the previous auction held on November 13. The bank also sold the announced volume of ALL 2.3bn worth of three-month T-bills. The yield averaged at 5.00%, down from 5.05% in the previous auction on October 30. The central bank has auctioned lek-denominated T-bills worth ALL 302.4bn since the beginning of 2012. It decided at its latest meeting on November 27 to keep the base interest rate unchanged at its record-low of 4% after cutting it by 0.25pps in July.
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