Macedonia's C-Bank Absorbs 3.485 Bln Denars (56.9 Mln Euro) in 28-day Repo Funds

The central bank bought the repo funds at an average interest rate of 9.0%, unchanged from the previous auction held on October 14.

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 around 108 billion denars since the beginning of 2009.

(1 euro=60.8035 Macedonian denars)