Average weighted rate for placement of 205 bln rubles in deposits until Dec 14 comes to 6.55%

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Average weighted rate for placement of 205 bln rubles in deposits until Dec 14 comes to 6.55% - MinFin

MOSCOW. Nov 8 (Interfax) - The average weighted rate for the Finance Ministry's Tuesday placement of temporarily idle budget funds in bank deposits until December 14 came to 6.55%, the ministry said in a statement.

A total of seven banks took part in the selection process. Total applications received came to 180.65 billion rubles with the set limit for available funds at 205 billion rubles.

With the minimum rate at 6.2%, banks indicated rates between 6.24% and 7.41% in their applications. The ministry set the cutoff rate at 6.24%, which allows for satisfying applications worth a combined 180.65 billion rubles.