Treasury Conducts Two Auctions

ANKARA - Treasury conducted two separate auctions on Tuesday to sell 392-day discounted state notes and 224-day discounted bonds.
In the first auction, Treasury sold 2 quadrillion 173.3 trillion Turkish liras (TL) nominal-valued 392-day discounted state notes although the total bid had been 3 quadrillion 371 trillion TL. The net sale was 1 quadrillion 536.3 trillion TL.
The composite interest rate became 38 percent and simple interest rate became 38.50 percent. The maturity of these state notes is September 22, 2004.
In the second auction, Treasury sold 818.5 trillion TL nominal-valued 224-day discounted bonds although the total bid had been 1 quadrillion 227.3 trillion TL. The net sale was 671.7 trillion TL.
The composite interest rate became 37.86 percent and simple interest rate became 35.50 percent. The maturity of these state notes is April 7, 2004.
Treasury will repay 4 quadrillion 814 trillion TL in domestic borrowing this week.
(UK-AÖ) 26.08.2003