December 16 (SeeNews) - Macedonia's central bank said on Wednesday it absorbed 1.460 billion denars ($34.5 million/23.7 million euro) in 28-day repo funds from the banking system.
The central bank bought the repo funds at an average interest rate of 8.5%, unchanged from the previous auction held on December 9.
The central bank, NBRM, auctions 28-day repo funds weekly, usually on Wednesdays. It sometimes alternates the periods of the repo fund offers to 27 or 29 days. The minimum lot for banks in repo auctions is set at one million denars.
The NBRM absorbed over 270 billion denars in repo deals in 2008. It has absorbed some 137.5 billion denars since the beginning of 2009.
(1 euro=61.611 Macedonian denars)