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Russia says to use auctions to compensate for FinMin FX buying
February 13, 2017 / 1:00 PM / 10 months ago

Russia says to use auctions to compensate for FinMin FX buying

MOSCOW, Feb 13 (Reuters) - Russia’s central bank said on Monday it would use auction operations to compensate for liquidity flows generated by the finance ministry buying foreign currency to replenish the country’s fiscal reserves.

In a regular report on liquidity, the central bank added that non-residents had partially closed their long positions in the rouble as a result of the finance ministry announcing the dollar buying programme in late January.

The bank said it expected a structural liquidity surplus to grow by the end of the year, but that a structural liquidity deficit could form at some stage in the coming months. (Reporting by Alexander Winning and Elena Fabrichnaya; Editing by Andrew Osborn)

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