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Company / Laws

What will happen to the ruble after the Central Bank of the Russian Federation in the foreign exchange market

Question - answer - Legal advice 14.01.2019 at 15:17

Question - answer - Legal advice

Bank

Russia returns Tuesday to the foreign currency purchases

the open market after a nearly six-month break. The actions of the regulator

can be a local factor of pressure on the exchange rate, however, serious

the attenuation can be expected, analysts say.

Moratorium on

the purchase of foreign currency of the Central Bank for the Ministry of Finance on Masuria in the framework of the budget rules

fact acted from August 2018. It was introduced amid

instability in the financial markets and the fall of the ruble. All this time

purchase of currency on profits from the sale of oil and gas was conducted by the Ministry of Finance

from the reserves of the Bank of Russia. In mid-December, the regulator announced that

will resume regular purchases on the open market from January 15, 2019.

the end of last week the Finance Ministry announced plans on volume of purchase of foreign currency

15 Jan to 6 Feb is 265,8 billion (15.6 billion

rubles a day). In December the Ministry announced the purchase of currency on

366,1 billion, in November was carried out purchases on 525,8 billion

rubles.