Slovak cbank rejects some bids in 2-wk repo tender

...to curb strength of the crown currency.

NBS data showed the banks accepted bids worth 180 billion Slovak crowns ($7.30 billion), out of total demand of 222.49 billion.

The minimum accepted interest rate was 3.45 percent in the auction, while the average rate stood at 3.78 percent. The maximum accepted rate was 3.99 percent.

The central bank cut the limit rate for two-week repo tenders by 25 basis points to 4.50 percent on March 27.

The central bank did not comment on the repo tender.