Turkey’s Treasury borrowed 4.2 billion Turkish liras (some $650 million) from domestic markets on Tuesday.

Some 3.6 billion Turkish liras (around $560 million) of three-year Turkish lira overnight reference rate (TLREF)-indexed bonds – new issuance – to be settled on Wednesday and mature on June 21, 2023 were sold in an auction, the Treasury and Finance Ministry said Tuesday.

The total tender was 4.48 billion Turkish liras (some $690 billion), with a 79.5% accepted/tendered rate.

The term rate of the 728-day Treasury bills was accepted at 2.52%, while the average annual simple and compound interest rates were 10.10% and

Read more: Turkish Treasury borrows $650M from domestic markets