Turkey Central Bank Invıtes Bıds For Try2b Up To 3-month Repo
Turkey's central bank Friday invited bids for a 2 billion Turkish lira ($1.3 billion) repurchase agreement auction, with a maturity of up to three months, aimed at enhancing the currency's liquidity.
The repo will mature June 18.
At the last repo, held March 5, the central bank sold TRY2 billion at an average simple interest rate of 7.47%.
The Turkish central bank said June 17 that it will start repurchase agreement auctions of up to three-month maturities in addition to the current repo auctions with one-week maturities. The auctions will be held every Friday for a month, it said.
After a month, auctions will be held with one-, two- or three-month maturities, depending on the forecast size of the liquidity deficit, the central bank said.
The longer-maturity repo auctions could be held on the same days as current one-week repo auctions, the bank said.
(SB-SB-ENG)