the Bank of Russia made a decision from November 28, 2024 to the end of 2024 not to purchase foreign currency in the domestic foreign exchange market as part of “Mirroring regular operations of the Ministry of Finance of Russia related to the implementation of the budget rule.” This is stated in the regulator’s message.
The Central Bank noted that the decision was made in order to reduce the volatility of financial markets.
“At the same time, the Bank of Russia will continue in accordance with the previously announced procedure in the domestic foreign exchange market for the sale of foreign currency related to the replenishment and use of the funds of the National Welfare Fund, including taking into account all operations carried out with the funds of the Fund in 2023 year, in the amount of 8.40 billion rubles a day, ”the statement said.
The regulator noted that “the decision on the resumption of the Russian Bank of Russia in the domestic foreign exchange market as part of the mirroring of regular operations of the Ministry of Finance of Russia related to the implementation of the budget rule will be accepted taking into account the current situation in financial markets”.
deferred purchases will be made within 2025, indicated in the Central Bank.
According to RBC, on the eve of the dollar in the international foreign exchange market, Forex exceeded ₽114.
In particular, the couple dollar/ruble (USD/RUB) grew on November 27, 8.54%, rising to ₽114.5 as of 16:07 Moscow time. The exchange rate of the American currency in relation to the ruble rose above the ₽114 mark for the first time since March 15, 2022.
As of November 28, the official CB was ₽108,0104. Now the dollar actually reached the levels at which he was during the currency crisis in March 2022. If we evaluate its dynamics according to the regulator, then since November the national currency has lost more than 11% of the cost, and from the beginning of 2024 – 19.5%.