June 19, 2020 / 11:32 AM / 16 days ago

Russian cenbank to offer up to $5.8 bln at one-year repo auction on Monday

MOSCOW, June 19 (Reuters) - The Russian Central Bank said on Friday it will offer up to 400 billion roubles ($5.76 billion) at a one-year repo auction on June 22, testing demand for long-term rouble liquidity.

The central bank will also on Monday offer up to 100 billion roubles at a one-month repo auction, having cancelled a similar auction in late May due to poor demand.

Repo, or repurchase agreement, auctions are held to increase the capacity of credit institutions to manage their liquidity. ($1 = 69.4670 roubles) (Reporting by Vladimir Soldatkin and Elena Fabrichnaya; Writing by Andrey Ostroukh; Editing by Jon Boyle)

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