Central Bank To Sell $50M To Non-Residents At Auction Today

Today the Russian Central Bank will conduct an auction for non-residents with S-accounts in Russia. The bank will sell $50 million. These assets will be sold to authorized banks that then will transfer these assets to accounts of non-residents who invested in Russian securities. The previous currency auction was held on September 20, 2001. The volume of applications amounted to about $138.69 million.