World Economy

RCB Places $87m Dollar Repos

RCB Places $87m Dollar ReposRCB Places $87m Dollar Repos

The Russian Central Bank has placed $87.7 million of 1-year dollar repos at an average rate of 2.1388 percent, Reuters said. The maximum volume was set at $10 billion. The bank also said that the low demand for its first one-year dollar repo auction showed that there was no deficit of foreign currency among the banks. The CB earlier launched a new financial tool known as currency repo, to provide up to $50 billion by the end of 2016.