The Central Bank has opened an issuance auction for a nominal amount of 50 billion lira with a maturity of 30 days for liquidity bills. The CBRT last used this mechanism in 2007.

The Central Bank of the Republic of Turkey (CBRT) has opened an auction for a 50 billion lira liquidity bill with a one-month maturity. The CBRT had announced on Friday that liquidity bills with maturities up to 91 days would be issued.

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

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