Central bank sells 0.8 bln rbl of yuan with settlement on Monday

MOSCOW, Oct 17 (PRIME) -- Russia’s central bank sold 0.8 billion rubles of the Chinese yuan on the national market with settlement on Monday, the bank said in a statement on Tuesday.

In January, the authority resumed transactions under the budget rule on behalf of the Finance Ministry switching to the yuan from the U.S. dollar.

The Finance Ministry planned to buy 398.71 billion rubles of foreign currency, or 18.12 billion rubles every day, under the budget rule from October 6 through November 7, but the central bank stopped foreign currency operations under the budget rule from August 10 until the end of the year because of the ruble’s fall.

The ministry also started selling currency in the framework of the National Wealth Fund money placement on August 1. The sales of the yuan were planned at 288.4 billion rubles in the period of August 1–January 31, 2024, or 2.3 billion rubles per day.

Before September 14, the regulator sold 2.3 billion rubles of foreign currency per day, but in September 14–22, the sales grew to 150 billion rubles, or 21.4 billion rubles per day. This was due to the redemption of foreign currency Eurobonds, the payment on which should be made in rubles. The remaining amount of currency was planned to be sold in equal parts from September 25 to January 31, 2024.

(97.2865 rubles – U.S. $1)

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