BUCHAREST, Nov 15 (Reuters) - Romania will tender 700 million lei worth of 3-month treasury bills on Nov. 19, replacing a planned three-year bond due to banks' demand for short-term instruments, the finance ministry said on Saturday.
'We replaced it because the treasury bill meets market demand,' said Stefan Nanu, director of the finance and economy ministry's treasury department.
'Banks want short-term investment tools.'
Nanu also said the ministry could issue another 3-month treasury bill in December, replacing one of two planned bond auctions.
Market watchers have said Romanian banks, the ministry's largest clients for debt auctions, have had access to adequate liquidity despite the credit squeeze that has battered the global banking system.
But the Romanian leu currency slid to nearly four-year lows at the start of October, as regional currencies plunged and investors worried about Romania's wide economic imbalances.
The ministry, which has limited issuance to maturities ranging from 6 months to 5 years, has scaled down issue amounts, rejecting bids at tenders as yields jumped in the wake of escalating global credit market woes.