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Oct 10, 2007 13:44 EEST
October 10 (SeeNews) - The Croatian central bank said on Wednesday it approved bids for Treasury bills worth some 3.0 billion kuna ($580.2 million/410.2 million euro) out of all 6.634 billion kuna bids placed in its weekly reverse repo auction.
The average rate achieved in the auction was 3.50%, unchanged from the previous weekly auctions held in the last few months, the central bank said in a statement.
At its regular reverse repo auction held last week the central bank accepted all bids for T-bills worth 6.545 billion kuna, the highest demand reached this year.
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= 7.3144 Croatian kuna)
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