Cbank retains ’18 liquidity surplus forecast at 3.8–4.2 tln rbl

MOSCOW, Jun 26 (PRIME) -- The Russian central bank has retained a 2018 forecast for banking system liquidity surplus at 3.8–4.2 trillion rubles, according to a report published on Tuesday.

“Structural liquidity surplus in the banking sector rose in May. Besides, the amount of cash in circulation traditionally decreased after the May holidays. At the same time, the forecast for structural liquidity surplus for the end of 2018 was retained at 3.8–4.2 trillion rubles,” the central bank said.

The central bank attributed the May inflow of money to banks to seasonal budget spending, relatively low tax payments by clients of banks, higher deposit and repo placements of the Federal Treasury and to foreign currency purchases by the Finance Ministry.

The situation on the Russian financial market was stable in May; there were no significant changes in quotations in any of the segments.

The long positions for the ruble on the currency swap market amounted to about U.S. $1.5–2 billion.

OFZ purchases by non-residents grew by 34 billion rubles in the period from May 22 till June 6, the central bank said.

(62.9497 rubles – U.S. $1)

End