Central Bank To Hold Auction For Non-Residents With C-Type Accounts

The Central Bank of Russia will hold an auction for non-residents that have funds on C-type accounts on December 18. $50 million will be offered for the auction. The currency will be sold to authorized banks to be transferred to non-residents that invested funds in the Russian securities market. No restrictions on repatriation of the purchased foreign currency have been imposed. The previous currency auction at which authorized banks could purchase foreign currency using non-residents' funds from C-type accounts took place on November 13, and the low was 30.90 ruble per dollar there. The volume of applications reached $82.96 million. $50 million were sold at the auction.