Russian central bank sells 800bn roubles at one-month repo auction

MOSCOW: The Russian central bank said on Monday it had sold 800 billion roubles ($10.8 billion) at a one-month repo auction, after an earlier one-year auction had seen more modest demand.

The bank had said it would offer up to 1.5 trillion roubles at the one-month auction.

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.