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Federal Treasury examines option of suspending currency deposit auctions by end of April

March 25, 2015, 19:51 UTC+3 MOSCOW
Huge payments are expected in April and therefore the decline in the offered amount can be forecasted, head of the Treasury Roman Artyukhin says
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© AP Photo Archive/Alexander Zemlianichenko

MOSCOW, March 25. /TASS/. The Federal Treasury is considering an option of suspending currency deposit auctions by the end of April because of huge currency payments at the end of that month, head of the Treasury Roman Artyukhin said on Wednesday.

"There is no such need from standpoint of the monetary policy. We have small balances and we deposit them. We expect huge payments in April and therefore the decline in the offered amount can be forecasted," Artyukhin said. The auctions schedule is currently under development, he added.

The Federal Treasury proactively placed free balances in foreign exchange into bank deposits since 2014 year-end, contributing to lowered ruble volatility.

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