ZAGREB: Croatia sold 1.7 billion Croatian kuna ($272.60 million) worth of one-year treasury bills at an auction, beating its target, Finance Ministry data showed on Tuesday.

The yield at the first auction in almost two months inched down one basis point to 0.05%. The original target at the auction was set at 1.2 billion kuna.

Non-banking investors bought almost 90% of the bills.

After the auction, Croatia's short-term local currency debt rose to 14.41 billion kuna from 14.09 billion.