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RBC, 29 Oct 1999, Moscow 10:38:48

Central Bank To Sell Currency At Auction


The Central Bank will hold a regular auction to sell currency to foreign investors - holders of restructured GKO-OFZ. The decision to conduct two additional currency auctions on September 24 and October 29 was made by the board of directors of the Central Bank on August 31, 1999. The Central Bank will offer $ 50 million today. It is noteworthy that according to the decision of the bank made in April, four currency auctions have already been conducted this year and $ 200 million has been sold, and the bid greatly exceeded the offer.