The Finance Ministry of Ukraine at auctions on Tuesday was able to reduce average rate for placing four-year government domestic loan bonds from 13.3% three weeks ago to 12.4% per annum thanks to still high demand.

According to a posting on the ministry's website, with unchanged offer of UAH 2.5 billion (the face value) demand was UAH 7.7 billion, although this is lower than the debut auction to sell these bonds held on November 5 – UAH 12.47 billion.

The Finance Ministry satisfied 24 applications out of 44 submitted at the rates varying from 12.33-12.64% per annum, rejecting 20 applications with rates reaching 13.25% per annum.

There was almost o demand on shorter bonds at these auctions: only one application for UAH 2.38 million to buy six-month bonds at the unchanged rate of 14.1% per annum was submitted and no application to buy 10-month bonds was filed.