CBR: the volume of buying currency for the Ministry of Finance can be reduced when volatility is high


MOSCOW, April 11. /TASS/. The Bank of Russia, which buys a currency for the Ministry of Finance on the domestic market, has said it is possible in some cases to change the schedule of operations.

Typically, the controller conducts operations on the foreign exchange market in the framework of fiscal rules evenly throughout the month, strictly following the request of the Finance Ministry, said in a statement the Central Bank.

“In particular, small applications of the Ministry of Finance can be implemented in a few days, not the whole month. In the days when the market is thin, for example, during holidays when the exchange is still working, the transaction can be committed on a smaller scale or not done at all due to lack of liquidity in the market. The schedule may also change in the case of high volatility. During longer operation in the framework of the budget rules are made in full volume”, – noted in the Bank.

According to the Bank, the regulator on Monday, April 9 bought foreign currency to the Ministry of Finance. In the previous trading day, April 6, the Ministry of Finance purchased foreign currency in the amount of 11.6 billion roubles.

The Russian financial market on 9 April sharply negatively reacted to new U.S. sanctions. In particular, indices of Mosuri and RTS fell by 8-11%, the dollar exchange rate has exceeded 60 rubles, Euro 75 rubles. On 10 April, the situation on the currency market continued to remain negative for the ruble: dollar exchange rate reached 63,95 of the ruble, while the Euro rose from 78.77 to ruble.

On 11 April, the dollar against the ruble rose to 64,76 rubles, the Euro to 80.14 of the ruble.

Purchase of currency in the foreign exchange market

The Ministry of Finance has not made purchases in the domestic foreign exchange market on 9 April, according to data on the website of the CBR. In particular, in the section “Factors of liquidity” in the “transactions of the Ministry of Finance of Russia for the purchase (sale) of foreign currency on the domestic foreign exchange market” is 0. on 9 APR. In the previous trading day, April 6, the Ministry of Finance purchased foreign currency in the amount of 11.6 billion roubles.

Earlier, Finance Minister Anton Siluanov reported that the authorities use the potential to minimize the effects of new U.S. sanctions, to change the rules of the foreign exchange market associated with the budget rule, is not planned.

The Ministry of Finance guides on foreign currency purchase additional oil and gas revenues generated by higher than budgeted oil prices.

In April, the Ministry of Finance planned to reach a record volume of purchases, aiming to buy from April 6 to may 8 currency 240.7 billion rubles against of 192.5 billion in the previous month.

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