LISBON, Aug. 16 (Xinhua) -- Portugal placed 1 billion euros in three- and 11-month treasury bills on Wednesday at the average yields that were more negative than in previous auctions, according to the Portuguese Treasury and Debt Management Agency (IGCP).
Portugal placed 750 million in 11-month bills with an average yield of minus 0.291 percent, lower than the similar auction on June 21 this year, when 1 billion euros were placed at an average yield of minus 0.264 percent.
The 250 million euros in three-month bills were auctioned with an average yield of minus 0.348 percent, lower than the similar auction on the same day, when 250 million euros were placed at an average yield of minus 0.337 percent.
Demand for 11-month bills was 2.45 times higher than supply while that for the three-month bills was 3.95 times higher.
Portugal is expected to raise 4.5 billion euros in treasury bills auction during the third quarter of this year.