Increase of average bank liquidity needs in July 2021 (BCT)

September 5, 2021

TAP) - The average need for bank liquidity increased significantly in July 2021 to reach 10.384 million dinars (MD), against 8.088 MD the previous month, according to the latest note on economic and monetary developments and medium-term prospects of the Central Bank of Tunisia (BCT).

This evolution reflects the restrictive effects exerted by the Treasury's subscriptions (1.378 MD of Short-term Treasury Bills (TBSTs)

and 715 MD of national loan) and the temporary increase in the demand for banknotes (570 MD caused by the Eid al-Idha holiday).

At the level of refinancing operations, the volume of the interventions of the Central Bank amounted to 10.078 MD, in July 2021, in progression of 2.052 MD (in m/m), essentially in the form of main refinancing operations (5, 287 MD after 3.970 MD in June 2021) and firm purchases of Treasury bills (3.493 MD after 3.091 MD).

It also concerns the recourse of banks to the 24-hour loan facility which increased, in July 2021, by +154 MD (in m/m) to settle at 629 MD.

In terms of interest rates, the MMR increased to 6.29% in July 2021, against 6.26% the previous month. On the other hand, the weighted average rate (WAR) of the main refinancing operations decreased to 6.28% after having stood at 6.33% in June 2021.

On 3 August 2021, the Board of Directors of the BCT had decided to keep the key rate unchanged at 6.25%.


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