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Russia’s Finance Ministry sells $300 million at currency deposit auction

January 26, 2015, 17:21 UTC+3 MOSCOW
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MOSCOW, January 26. /TASS/. Russia’s Finance Ministry has placed $300 million at a deposit auction to help banks meet their foreign currency liquidity, according to materials released by the Federal Treasury on Monday.

The auction’s limit stood at $3 billion while its cut-off and average-weighted rates equaled 1.5%, the Federal Treasury said.

Russia’s Finance Ministry has already held four currency deposit auctions to help banks replenish their foreign exchange liquidity and repay their foreign debts, and also mitigate the ruble’s volatility.

The Finance Ministry held its first foreign currency deposit auction on November 17, placing $2.13 billion out of the $3 billion limit. The average-weighted rate amounted to 1.71%.

The second auction was held on December 15. The auction’s limit stood at $3 billion while bids amounted to $4.31 billion. The funds were provided for 14 days. The average-weighted rate stood at 2.66%.

Russia’s Finance Ministry held its third auction on December 29, placing $3 billion deposits to banks for 28 days.

The auction’s cut-off and average-weighted rate amounted to 1.9%.

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