KIEV: Ukraine's Finance Ministry sold 700 million hryvnias ($88 million) in dollar-linked bonds at an auction, it said in a statement on Thursday.

The ministry sold three-year bonds with a weighted average yield of 9.30 percent, down from 9.75 percent in the previous sale on December 14, 2011.

The principal value of the hryvnia bonds is linked to the monthly average hryvnia/dollar rate but the interest is not and settlements are made in local currency.