Spanish treasury places €4.186bn on market

The Spanish treasury placed on Tuesday treasury bills valued at 4.186 billion euros ( 4.552 billion U.S. dollars) on the market at lower interest rates than in previous auctions and registered a high demand of around 9.9 billion euros.

A total of 441 million euros worth of three-month treasury bills carried an average interest rate of -0.053 percent as opposed to the 0.010 percent of the previous issue held in June.

The placement also included 3.745 billion euros worth of nine-month treasury bills that fetched an average interest rate of 0.022 percent as opposed to the 0.075 percent of June.

So far, the Spanish treasury has placed around 95.2 billion euros of medium and long-term debt on the market, which represented 67 percent of the country's financial needs for the year. (1 euro=1.08 U.S. dollars)