Russia’s central bank is expanding its efforts to mop up surplus liquidity with an instrument it hasn’t used for more than a year.
Instead of providing money to lenders at a regular repurchase auction, the central bank on Tuesday accepted 100 billion rubles ($1.5 billion) of funds on deposit for one week, paying a weighted average of 10.22 percent in interest. Demand from 62 banks at the first such auction since February last year came to 187 billion rubles.
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