On Tuesday August 10th, 2010 the Ministry of Finance (MoF) of the Dominican Republic, through the Public Debt Office, conducted its seventh Monthly Auction. In this occasion, the second series of the Bonds of 3, 5 and 7 years were opened. The program was also expanded to include 10-year bonds, covered by Decree No. 359-10.

In this seventh auction, RD$13,500.0 million were auctioned in MoF Bonds: RD$500.0 million corresponded to 3-year bonds, RD$1,000.0 million to 5-year bonds, RD$1,000.0 million to 7-year bonds, and RD$11,000.0 million to 10-year bonds.

Offers were received for RD$17,419.8 MM (USD$472.0 million at the exchange rate RD$/US$ 36.9050) from commercial banks, saving and loans associations and brokerage firms for their own accounts and on behalf of their clients. 

The total assigned was RD$4,332.0 MM (USD$117.4 MM at the exchange rate RD$/US$ 36.9050). The amount allocated for the 3-year bonds was RD$206.0 MM (US$5.58 MM at the exchange rate RD$/USD$ 36.9050), for the 5-year bonds was RD$881.0 MM (US$23.87 MM at the exchange rate RD$/USD$ 36.9050), for the 7-year bonds was RD$250.0 MM (US$6.77 MM at the exchange rate RD$/USD$ 36.9050), and for the 10-year bonds was RD$2,995.0 MM (US$81.15 million to the exchange rate of RD$/US$ 36.9050), allocated at weighted average interest rates of 10.2813%, 12.0732%, 13.2500% and 16.0010%, respectively.

The eighth auction is scheduled for September 7th as published in the 2010 calendar for the Public Securities Auction Program.