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The average annualized yield of three-month treasury bills fell by more than 24 percentage points at the government's 17th auction of the securities, the Skate-Press Consulting Agency reported Wednesday.
The yield settled at 127.83 percent at Tuesday's auction, down from 151.96 percent at the last auction of three-month bills two weeks ago. The Central Bank's refinancing rate currently stands at 150 percent.
According to the Moscow Interbank Currency Exchange, 547.4 billion rubles ($258.5 million) in bonds were sold.
T-Bill Yields Take Tumble
18 August 1994
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