The Central Bank of Montenegro announced that at the first auction of the year, all government bills with a maturity of 182 days, worth 20 million euros, were sold at an average rate of 3.5 percent.
The total amount of submitted bids was 25 million euros. The maturity date of the notes is June 11 of the following year.
Government bills are short-term securities, by issuing which the state borrows for that amount, and interested parties make their bids at the auction with a percentage of yield, i.e. interest for that amount and the period from issuance to collection.
The Central Bank of Montenegro is the agent of the state for the issuance of notes, that is, it performs an intermediary technical role.
The Ministry of Finance of Montenegro is obliged to pay the obligations on the issued state bills on the due date, Srna reports.
