Turkish Lira Deposit Buying Auction- Average Interest Rate Becomes 44.96 Percent

ANKARA - The average interest rate in Friday's Turkish lira (TL) deposit buying auction held by the Central Bank in the Interbank Money Market became 44.96 percent.
The minimum interest rate became 44.75 percent and maximum interest rate became 45 percent in the auction for deposits.
Although the total bid had been 390 trillion TL, the bank bought 200 trillion TL.
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 earlier announced that the maximum amount in each auction would be 200 trillion TL.