The central bank has taken steps to manage excess funds in the banking system. It used a specific type of auction to absorb a large amount of money. The process involved accepting bids from banks and setting a rate for the transaction.
Banks showed strong interest in participating, submitting bids worth more than the initial amount. The central bank accepted a significant portion of these bids at a set rate. Further details about the auction and its outcomes are available from the source.
The action is part of an effort to bring certain market rates in line with a key policy rate.
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