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FRANKFURT, Oct 1 (Reuters) - The European Central Bank lent banks $50 billion in overnight dollar funds at a marginal rate of 3.25 percent on Wednesday.
The rate was well below the 11 percent rate at Tuesday morning's auction but above the bargain 0.5 percent at a second impromptu auction held late in the day -- the last of the financial quarter.
Demand was strong at $70.927 billion as banks continue to suck up central bank loans as a substitute for normal interbank lending.
A total of 61 banks bid at the tender, which is part of joint action with the U.S. Federal Reserve and other central banks to relieve money market tension.
For details please click of Reuters information page <ECB34>.
(Reporting by Krista Hughes) Keywords: ECB/TENDER DOLLAR
tf.TFN-Europe_newsdesk@thomsonreuters.com
cmr
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