Date: 2 months ago   Category: Finance

The Central Bank estimated the impact of renewal of purchases of currency for the Ministry of Finance on ruble exchange rate — Rambler News Service


Renewal of purchases of currency for the Ministry of Finance had no significant effect on dynamics of ruble exchange rate, is reported in the information and analytical material "Liquidity of the Banking Sector and Financial Markets" prepared by the Central Bank. "Renewal of purchases of currency within the budgetary rule had no significant effect on the cost of currency loans in a "currency swap" segment in January, on dynamics of ruble exchange rate", - it is said in the statement. At the same time, according to the Central Bank, increase in internal currency obligations in the largest banks due to inflow of client deposits and also growth of placements of currency in the money market in a "currency swap" segment by the banks serving exporters continued to be observed. Earlier in January the head of the Bank of Russia Elvira Nabiullina told journalists that the Central Bank does not see risks for ruble in connection with renewal of the postponed purchases of currency for the Ministry of Finance within the budgetary rule. On January 25 the Central Bank reported that since February 1 it will resume the postponed purchases of foreign currency in domestic market within the budgetary rule, purchases will be evenly carried out within 36 months. It was noted that, according to plans, these operations will increase the daily volume of purchase of foreign currency in domestic market within the budgetary rule by 2.8 billion rubles. The Central Bank resumed purchases of currency for the Ministry of Finance on January 15, earlier in August, 2018 the Bank of Russia reported that until the end of September it will not buy foreign currency in domestic market for the Ministry of Finance for decrease in volatility of the financial markets, later it prolonged suspension of purchase of currency until the end of 2018. In December the Central Bank reported that it will resume regular purchases of foreign currency in domestic market since January 15, 2019. The regulator explained that such decision was made taking into account stabilization of a situation in the domestic financial market.

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