Macedonia C-Bank Absorbs 2.840 Bln Denars (46.27 Mln Euro) in 28-day Repo Funds

The central bank bought the repo funds on Thursday at an average interest rate of 7.0%, unchanged from a previous auction held on November 12, it said in a statement.

The central bank, NBRM, auctions 28-day repo funds every week, usually on Wednesdays. It sometimes alternates the periods of the repo fund offers to 27 or 29 days. The minimum lot for banks at the repo auctions is set at one million denars.

The NBRM absorbed over 160 billion denars in repo deals in 2007. It has absorbed some 242.8 billion denars in repo deals since the beginning of 2008.

(1 euro = 61.3716 Macedonian denars)