The RKDF placed 100 million KGS on the exchange — the rate reached 15% per annum

Following the auction held on December 23, the Russian-Kyrgyz Development Fund placed all of its funds in commercial banks in Kyrgyzstan, becoming the second institutional participant in deposit auctions after the Ministry of Finance.

The RKDF announced the auction on December 19. The placement was carried out through the deposit auction mechanism of the Kyrgyz Stock Exchange and concerned the Fund's free liquidity in the national currency.

As part of the auction, the RDF placed 100 million KGS, divided into two lots:

• 50 million KGS for a term of 6 months — the weighted average rate was 14.5% per annum;
• 50 million KGS for a term of 9 months — the weighted average rate reached 15% per annum.

For both lots, the volume of demand fully matched the announced volume, and the placement was carried out in full. The minimum and maximum rates for satisfied applications coincided with the weighted averages.

The RKDF entry into deposit auctions means that the Fund has effectively joined the market mechanism of competition among banks for large deposits, which was previously launched by the Ministry of Finance.

As previously reported by Akchabar, in September, the Ministry of Finance held deposit auctions on the KFB platform for the first time in the country's history, placing mitigation account funds in commercial banks. At that time, the total volume of the offer amounted to 24 billion KGS, of which 20.3 billion KGS were placed at market rates.