MOSCOW. Dec 15 (Interfax) - Russia's Finance Ministry placed 50 billion rubles in temporarily idle budget funds in six-week bank deposits at an auction on Tuesday, the MinFin said in a statement.
A total of 50 billion rubles were offered for placement. Three banks participated in the auction. Total applications came to 65 billion rubles.
The average weighted rate came to 9.4% with a cutoff rate of 9.3%. The minimum rate at auction was set at 9.25%. The maximum rate came to 9.5%.
A bank application at auction could come to a minimum of 5 billion rubles with a maximum of up to five applications.