CB 9 Aug halved the purchase of currency for the Finance Ministry amid a sharp fall of the ruble because of the threat of new us sanctions. In April, when the United States imposed sanctions against Russian companies, the Central Bank did not buy foreign currency a week
Photo: Andrew Lubimov / RBC
The Bank of Russia of August 9, when the dollar on Masuria for the first time since the fall of 2016 exceeded the level 66.5 rubles, reduced by half the market buying currency for the Ministry of Finance. Currency purchased in the framework of fiscal rules when the incoming funds from the sale of oil at a price above $ 40./Barr. heading in foreign exchange reserves.
In August a daily basis to purchase foreign currency, the Finance Ministry had to spend 16.7 billion rubles., but on 9 August it was purchased currency by 8.4 billion roubles, follows from the data of the Central Bank.
The dollar rose above 67 rubles. for the first time in two years
To limit volatility, the Bank of Russia may adjust the daily volume of purchases of foreign currency in the foreign exchange market in the framework of the mechanism of budget rules, said in comments published today by the Bank of Russia. In the longer term, these operations will be fully implemented, said the TSB.
In August the Ministry of Finance will buy the currency on 383,2 billion, RUB 35.5 billion rubles. more than in July. Only 2018 on the purchase of foreign currency it is planned to spend 2.7 trillion rubles, Dollars, euros and British pounds are purchased in the ratio of 45:45:10.
During the previous April — a collapse in the foreign exchange market, the Central Bank did not buy foreign currency for the Ministry of Finance from April 10 to 17, the purchases were resumed only on April 18. Then the markets react to the introduction of United States sanctions against Russian public companies — UK RUSAL and En+.
A sharp depreciation of the ruble against the dollar and the Euro started in mid-afternoon of 8 August against the publication of a draft bill on new us sanctions, which could adversely affect the Russian state-owned banks. The fall was aggravated on the morning of 9 August, when it became known about another American sanctions initiative — in the “case Skripal”. On Friday, 10 August, the market again opened with the rise of quotations of the ruble against the dollar to new highs, exceeding the 67 RUB/USD. but by 11:00 was corrected to the level of 66,8 RUB/USD. (+15 kopeks to the level of the close of trading yesterday).