The Central Bank has announced the opening of a 30-day maturity liquidity bond auction with a nominal value of 50 billion lira. The CBRT last used this mechanism in 2007.

The Central Bank of the Republic of Turkey (CBRT) has opened an auction for a 30-day maturity liquidity bond worth 50 billion lira. The CBRT had announced on Friday that liquidity bonds with maturity up to 91 days will be issued.

Accordingly, an auction was held for paper with the ISIN code TRM240425T14, with a value of 50 billion lira. Bids for the next day value bond will be accepted between 11:00-11:45.

As of March 21st, a liquidity surplus of 674.1 billion lira was recorded in the system. The CBRT last implemented the practice aiming to withdraw excess Turkish Lira from the market due to foreign exchange purchases in July 2007.