At primary auctions on January 23, the agency placed OVDP in the amount of ₴6B, a week earlier, it was ₴8.51B. ₴289.33M was received from the sale of annual bonds at 16.8% per annum, ₴1.64B from bonds with a maturity of 22 months at 17.6%, and three-year bonds brought ₴262.76M at 18.5%.
The Ministry of Finance also placed $101.6M worth of bonds in foreign currency with maturity in 14 months at 4.65%. The agency managed to lower the three-year bond rate to 18.5% from 18.6%, at which it was held for two months.
According to ICU, the Ministry of Finance fundraising efforts have declined by only about a third compared with the previous week. Still, Kyiv is currently not raising much, especially in the absence of international aid.
At the same time, the reduction of rates on reserve notes signals that the Ministry seeks to further reduce the cost of servicing domestic debt, so it will not refuse to lower rates while under favorable conditions.