Treasury Sells 91-day Reference Bonds

ANKARA - Turkish Treasury held an auction on Tuesday to sell 91-day reference bonds denominated in New Turkish lira (YTL) (One dollar equals 1.29 YTL).
In the auction, Treasury sold 1.13 billion YTL of nominal-valued bonds. The total bid was 2.16 billion YTL, while the Treasury sold net 1.09 billion YTL of bonds.
The composite interest rate was 16.24 percent, and the simple interest rate was 15.34 percent.
The value date of the bonds is March 16th, and maturity is June 15th, 2005.