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Dec 27, 2007 12:14 EEST
December 27 (SeeNews) - Macedonia's central bank, NBRM, said it absorbed on Thursday 6.9 billion denars ($161.7 million/111.5 million euro) in 28-day repo funds from the banking system.
The central bank bought the repo funds at an average interest rate of 4.81%, the NBRM said in a statement.
The repo rate rose by 0.04 percentage points from the previous auction, held on December 19.
Commercial banks placed bids for 7.165 billion denars but the Finance Ministry approved only the amount on offer.
The central bank auctions 28-day repo funds each week, usually on Wednesdays. It sometimes alternates the periods of the repo fund offers from 28 days to 27 or 29 days. The minimum lot for banks at the repo auctions is set at one million denars.
The NBRM has absorbed over 130 billion denars in repo deals since the beginning of the year.
(1 euro = 61.86 Macedonian denars)
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