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Nov 14, 2007 14:05 EEST
November 14 (SeeNews) - The Croatian central bank said on Wednesday it approved bids for Treasury bills worth 3.280 billion kuna ($655.3 million/446.2 million euro) out of the 6.542 billion kuna worth of bids placed in its weekly reverse repo auction, as the weighted repo rate edged higher.
The weighted repo rate achieved in the auction was 3.60%, up from 3.52% in the previous auction held on October 17, the central bank said in a statement.
The rates of bids ranged from 3.60% to 4.00%. One-half of the accepted bids were at a rate of 3.60%.
"Maybe the market will calm down and the liquidity will improve now, following the three weeks in which no reverse repo auctions had been held," a money market dealer with commercial bank Hypo Alpe-Adria-Bank told SeeNews.
At the previous reverse repo auction held on October 17 the central bank accepted 3.529 billion kuna worth of bids, or more than half of all bids placed in the auction
The Croatian central bank launched open market operations in April 2005 using T-bills as collateral and aiming to better manage liquidity and prevent sharp changes in interest rates.
(1 euro = 7.3512 Croatian kuna)
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