Russia's central bank to offer up to $21.55bn at Dec 7 repo auctions

MOSCOW: Russia's central bank said on Friday it would offer up to 100 billion roubles ($1.35 billion) at a one-year repo auction on Dec. 7 and up to 1.5 trillion roubles ($20.20 billion) at a one-month repo auction on the same date.

Repo, or repurchase agreement, auctions are designed to increase banks' capacity to manage their liquidity.

Liquidity at such actions became more affordable after the central bank slashed its key rate to a record low of 4.25pc this year.