Bank of Russia buys 26.5 bln rubles worth of foreign exchange on domestic market

TASS Russian News Agency | Nov 25, 2021 at 8:49 AM

MOSCOW, November 25. /TASS/. The Bank of Russia purchased 26.5 bln rubles ($355.7 mln) worth of foreign exchange on the domestic market with settlements on November 24, the regulator reported on Thursday.

The amount of forex purchased by the Bank of Russia with settlements on November 23 totaled 26.4 bln rubles ($354.4 mln).

The Finance Ministry returned to purchasing foreign exchange under the fiscal rule starting January 15. Since then, the amount of forex purchased on the domestic market has surpassed 2.3 trillion rubles ($30.9 bln).

Previously, the Bank of Russia carried out transactions on the preemptive sale of foreign currency on the domestic market as part of implementing the fiscal rule mechanism in a move to make the actions of monetary authorities more predictable and reduce volatility on the financial markets amid major changes on the global oil market. The amount of forex sold on the domestic market totaled 1.686 trillion rubles ($22.63 bln).

The transactions were planned to be conducted until the start of regular sales of foreign exchange using the finances from the National Wealth Fund.