First auction of annual state notes on August, 26th

Department for vault in the Ministry of finances of Serbia has announced today (August, 25th, 2009) that on Wednesday, August, 26th, will be organized the auction of annual state notes for the first time this year.

At today's auction of three-months state notes, all offered notes worth 5 billion RSD were sold.

The notes were sold for annual interest rate of 12,15%, and the payment is due on November, 24th.

The next auction of three-months state papers of value is scheduled for September, 1st.

Department for vault is also organized auctions for six-months notes on Thursdays, while Tuesdays auctions are reserved for three-months notes. The money from sales is going for financing of the budget's deficit.