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CBR strikes foreign currency swap deals worth $581.4 million on September 30

October 01, 2014, 11:33 UTC+3
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MOSCOW, October 1. /TASS/. The Central Bank of Russia (CBR) has struck foreign currency swap deals over the sale of US dollars for rubles to the tune of $581.4 million on September 30.

The CBR has started foreign currency swap transactions over the sale of US dollars for rubles with their further purchase since September 17. Meanwhile, no deals have been struck with this instrument before September 30. The ruble interest rate of the deal makes seven percent per annum, the foreign currency interest rate — 1.5%. The limit of foreign currency swap operations with today/tomorrow settlements is set at $1 billion and with tomorrow/the day after tomorrow settlements — at $2 billion.

“These operations seek to expand capabilities of lending organizations to manage their short-term foreign currency liquidity and will be carried out at fixed interest rates,” the CBR said.

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