The regulator also sold foreign currency in the amount of 2.3 bln rubles ($23.9 mln) on the domestic market with settlements on September 11
MOSCOW, September 13. /TASS/. Russia’s Central Bank sold foreign currency worth 2.3 bln rubles ($23.9 mln) on the domestic market with settlements on September 12, according to data published on the regulator’s website.
The regulator also sold foreign currency in the amount of 2.3 bln rubles on the domestic market with settlements on September 11.
The Bank of Russia said earlier that from August 10, through December 31, 2023, it would not buy foreign currency in the domestic market to mirror regular fiscal rule-based operations conducted by the Ministry of Finance, adding that it would make a decision on resuming fiscal rule-based foreign currency purchases in the domestic market depending on the actual situation in financial markets. The Bank of Russia also said that it would continue operations to sell foreign currency in the domestic market that are related to the use of the National Wealth Fund’s resources.
The Central Bank said on September 6 that it would temporarily accelerate the previously announced operations to mirror transactions associated with the National Wealth Fund (NWF) money investment in the first half of 2023. From 14 to 22 September 2023, the Bank of Russia will consistently sell foreign currency in the foreign exchange market for a total amount of 150 bln rubles ($1.5 bln), which means that the daily amount of these operations of the Bank of Russia during the said period will reach 21.4 billion rubles instead of 2.3 billion rubles.
The Finance Ministry shifted to purchases of foreign currency and gold under the fiscal rule on August 7. The amount of funds allocated for purchase of foreign currency and gold from September 7 to October 5, 2023 has been set by the ministry at 276.16 bln rubles, with daily purchases equaling 13.15 bln rubles.
The Russian Finance Ministry resumed FX sell operations in the domestic FX market under the new fiscal rule mechanism on January 13, 2023. Purchase and sales transactions of foreign currency are carried out by the Bank of Russia on the domestic market in the currency section of Moscow Exchange in the ‘Chinese yuan-ruble’ instrument.