MOSCOW, Jan 21 (Reuters) - Russia's Finance Ministry sold 1.11 billion roubles ($16.88 million) worth of its OFZ treasury bonds at a weekly auction, out of 5 billion roubles on offer, Reuters data showed on Wednesday.
This was the ministry's first weekly treasury bonds auction this year. The ministry has been forced to cancel most of its auctions in recent months due to deteriorating market conditions, weakening of the rouble and shortages of rouble liquidity on the money market.
The ministry placed the bonds, maturing in May 2016, at an average yield of 15.27 percent.
($1 = 65.7710 roubles) (Reporting by Elena Orekhova and Katya Golubkova; Writing by Lidia Kelly, editing by Elizabeth Piper)