Ireland has sufficient reserves to redeem a 4.39 billion euro (3.78 billion pound) bond on November 11 despite the euro zone's rescue fund postponing a bond auction to raise three billion euros for the country.

The bond redemption will be met out of existing resources, a spokesman for Ireland's debt office, the National Treasury Management Agency (NTMA), said on Wednesday. We have reserves at the moment of 11.6 billion euros.

Earlier, the Luxembourg-based European Financial Stability Facility (EFSF) said the 3 billion euro auction had been put on hold due to market conditions and it would attempt to return to market in the near future.

Greek Prime Minister George Papandreou's surprise decision to call a referendum on the country's latest bailout has sent markets into a downward spiral.

Sources said the 3 billion euros bond deal, part of funding for Ireland's bailout programme, was now expected to price over the next two weeks.

(Reporting by Carmel Crimmins; Editing by Toby Chopra)