On terminating one-week and 28-day FX repo auctions with minimum limit

The Bank of Russia pursues the policy of gradual reduction in credit institutions’ outstanding amounts under FX refinancing operations due to their temporary nature. At present, these outstanding amounts have been brought down to $1 billion. Due to the above considerations and to the situation in the FX market, the Bank of Russia decided to terminate one-week and 28-day FX repo auctions with the maximum allotment amount of $100 million.

The limit of the 28-day FX repo auction held on 4 September 2017 will be reduced on a stage-by-stage basis.

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