The offer is open until 25 October, the Finance Ministry said on Tuesday.

The move comes after the treasury bought back US$ 1.25bn in bonds in May and another EUR 513m in August this year, reducing its exposure in US dollars to under US$ 5bn.

Euro bonds were simultaneously issued on both occasions to extend the maturity and reduce the yield on the debt.

The operations are seen as a key debt management operation given the relatively high interest on dollar bonds, which is now being replaced by eurobonds at historically low rates.