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Dec 12, 2007 16:00 EEST
December 12 (SeeNews) - The Croatian central bank said on Wednesday it approved bids for Treasury bills worth 5.176 billion kuna ($1.038 billion/707 million euro) of a total 5.771 billion kuna bids placed in its weekly reverse repo auction, as the weighted repo rate was unchanged, while the marginal rate was higher.
The weighted repo rate was 4.01%, unmoved from the previous auction held last week, the central bank said in a statement.
Bids ranged from 3.60% to 4.10%. All of the accepted bids were at a marginal rate of 4.00%.
At the previous reverse repo auction on December 5 the central bank accepted all 3.083 billion kuna worth of bids. The marginal rate then stood at 3.60%.
The Croatian central bank launched open market operations in April 2005 using T-bills as collateral and aiming to manage liquidity better and prevent sharp changes in interest rates.
(1 euro=7.3176 Croatian kuna)
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