Page 88 - RusRPTOct20

source: CBR
The Central Bank of Russia (CBR) said at the end of September that it is going to double the amount of its interventions in the FX market ​using the proceeds from its sales of a controlling stake I Sberbank to the Ministry of Finance, but the amount of money put aside for these interventions will still be less than it marshalled during the worst of the coronacrisis lockdown earlier this year.
“These additional transactions are the result of offsetting the volume of sales of foreign currency associated with the transaction with the block of shares of Sberbank, with the volume of purchases of foreign currency under the budgetary rule, postponed in 2018 and in March-April 2020, as well as with the volume of transactions made in March— April proactive foreign exchange sales under fiscal rule. The total net volume of foreign currency, equal to RUB185.4bn in ruble terms, will be evenly sold in the domestic foreign exchange market. Taking into account the number of trading days in the 4th quarter, the daily volume of additional transactions for the sale of foreign currency in October-December will amount to RUB2.90bn per day. Considering the volume of these additional operations and the uniform nature of their performance,” the CBR said.
Calculation of the volume of sales of foreign currency in October-December 2020 in addition to standard operations within the framework of the budget rule in ruble equivalent, billion
Foreign currency received as a result of a transaction for the sale of a block of shares in PJSC Sberbank
2139.4
Pre-emptive sales of foreign currency and sales related to the sale of shares of Sberbank PJSC carried out in March-May 2020
-504.2
Balance of 2018 deferred purchases of foreign currency under the budget rule
-1323.8
Foreign currency purchases postponed in March-April 2020 under the budget rule
-126.0
Balance for sale in
185.4
88 ​RUSSIA Country Report​ October 2020 ​ ​www.intellinews.com