Bank of Russia buys over $300 mln worth of foreign exchange on domestic market

TASS Russian News Agency | Dec 14, 2021 at 9:03 AM

MOSCOW, December 14. /TASS/. The Bank of Russia purchased 22.8 bln rubles ($310 mln) worth of foreign exchange on the domestic market with settlements on December 13, the regulator reported Tuesday.

The amount of foreign exchange purchased by the Central Bank with settlements on December 10 equaled 22.8 bln rubles ($310.6 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 2.6 trillion rubles ($35 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 around 1.7 trillion rubles ($22.27 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.