Page 60 - RusRPTDec23
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     These sales are expected to reach up to 600bn rubles per year, as stated in the regulator's announcement regarding the main directions of the state monetary policy for the years 2024–2026.
This move follows the Finance Ministry's commencement of currency sales within the NWF investment framework on August 1. The sales were specifically focused on the Chinese yuan, with a planned amount of 288.4bn rubles to be sold between August 1 and January 31, 2024, equivalent to approximately 2.3bn rubles per day.
According to the central bank's document, sales conducted under this mechanism reached 250bn rubles in 2023. The bank's estimates indicate that these sales of foreign currency within the framework may reach up to 0.6 trillion rubles per year in the period spanning 2024 to 2026.
The Finance Ministry had also intended to purchase 398.72bn rubles of foreign currency, amounting to 18.12bn rubles daily, following the budget rule from October 6 through November 7. However, the central bank ceased foreign currency operations under the budget rule from August 10 until the end of the year due to the depreciation of the ruble.
  60 RUSSIA Country Report December 2023 www.intellinews.com
 





























































































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