Russia » Economics

Central Bank posts results of recent currency tender - 15 October, 2002

The minimal rate for selling foreign currency by the Central Bank at a currency tender on October 11 was 31.70 RUR/USD. At the same time the average-weighted rate amounted to 31.96 RUR/USD, the public relations department of the Central Bank reported. The total volume of applications submitted by authorized banks for buying foreign currency amounted to $26,452,169.

As it was reported earlier, this tender was carried out on October 11. The currency was to be sold to banks that were authorized by the Central Bank. These banks are to transfer these funds to foreigners who invested resources in the Russian stock market. The maximum volume of the sale was $50m. Foreign currency could be purchased by non-residents' money resources that were at the type 'C' accounts. There was no limit on repatriation of the bought currency.

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