On the Zagreb Money Market, the supply sharply fell today, while the demand remained at high levels since Tuesday, resulting in an uncovered demand of 350 million kuna, with interest rates significantly rising.
The supply today amounted to 108.9 million kuna, while the demand was 458.9 million. The high demand and low supply are consequences of the beginning of a new period of allocation and maintenance of mandatory reserves. Most of the turnover, 83 million kuna, consisted of overnight loans, where the interest rate jumped to 8.93 percent, while it was 2.14 percent on Tuesday.
For a one-week term, 18 million kuna was placed at a rate of 10.67 percent, while the interest rate was 8.83 percent on Tuesday. For a two-week term, 1.9 million kuna was placed at an interest rate of 5.5 percent, while for a one-month term, 6 million kuna was placed at a rate of 8.5 percent. The total turnover on the Zagreb Money Market today amounted to 108.9 million kuna, with the average interest rate rising to 9.13 percent, while it was 7.32 percent on Tuesday. (Hina)
