Russian central bank to hold daily auctions to help banks manage liquidity

MOSCOW – Russia’s central bank said on Wednesday that it would hold daily 3 trillion rouble ($28.31 billion) repo and deposit auctions to help lending institutions manage their liquidity and keep overnight money-market rates close to its key rate.

The auctions would start on Thursday and take place on weekdays, the bank added in a statement.

($1 = 105.9750 roubles)

(Reporting by Reuters)