Bank of Russia to buy forex to counter oil price changes
Finance ministry orders central bank to sell or purchase forex
Russia's central bank will carry out foreign exchange (forex) sale and purchase operations at the direction of the country's finance ministry, the two institutions announced yesterday (January 25).
The forex operations will be in response to benchmark oil prices. Russia is a major exporter of oil and natural gas, and recent central bank plans have been based around world hydrocarbons prices.
The finance ministry said that the central bank will buy forex on the ministry's behalf if benchmark
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Foreign Exchange
Malaysia using more yuan and ringgit for trade, BNM says
Central bank says the use of dollars for settlement has remained stable over last 14 years
Malaysian central bank rebukes Google for exchange rate error
Google Malaysia says faulty exchange rate data came from third party and apologises for the error
Nigeria closes FX exchanges amid continuing currency problems
Authorities intensify actions against Binance and other cryptocurrency firms
Nigerian central bank hikes rates after long delay
Governor’s first MPC meeting announces 400bp rise as street protests over inflation grow
Malaysian governor urges firms to support currency
Cambodian and Malaysian central banks will launch a new cross-border payments link
Nigerian president nominates seven MPC members
Central bank tightens currency restrictions as inflation continues to rise and dollar shortages continue
Nigerian authorities accuse ex-governor of $6m theft
Emefiele has denied all charges but prosecutors say cheque to president was forged
Auditors discover problematic FX claims at Nigerian central bank
Announcement of $2 billion in suspect claims comes after 60% devaluation of naira