There was relief in the money markets on Thursday. The CBR provided RUB 600bn via the overnight repo at 5.54%. Thus, repo utilisation reached RUB 2.2tn, i.e. around the highest level so far this year. At the same time, the demand for FX swaps was lower and banks did not use this facility at the CBR on Thursday. Overnight, the MICEX repo was at 6.21%, FX swap was around 6.2%.