1 Feb 2011 17:48

St. Petersburg to hold auctions for the placement of up to4.5 bln rubles in idle budget funds on Feb 2

ST. PETERSBURG. Feb 1 (Interfax) - St. Petersburg's finance committee will hold an auction on Wednesday on the city's currency exchange for the placement of temporarily idle budget funds in bank deposits, the exchange said in a statement.

The maximum placement size comes to 4.5 billion according to the auction's terms.

The funds will be placed in deposits for 91 days.