Average Interest Rate Becomes 26.10 Percent

ANKARA - The average interest rate in Monday's two-week maturity Turkish lira (TL) deposit buying auction conducted by the Central Bank at the Interbank Money Market became 26.10 percent.
The maximum interest rate became 26.10 percent and minimum interest rate became 26.00 percent in the auction.
The total bid had been 111 trillion TL and the bank withdrew 108 trillion TL from the market.
The Central Bank has been holding TL deposit buying auctions since April of 2002 to sterilize extra TL liquidity, which is created in the system by foreign exchange auctions, through money market instruments and increase efficiency of transactions.
The bank conducts 2-week maturity auction every Monday and 4-week maturity auctions every Wednesday and Friday.
(MS-AY) 12.01.2004