Currency converter
News Feed
News Search Topics
Use filter
You can filter your feed,
by choosing only interesting

Bank of Russia: no excessive demand on currency market ahead of foreign debt payments

August 10, 2015, 12:08 UTC+3 MOSCOW
Material has 1 page

MOSCOW, August 10. /TASS/. Russia’s Central Bank does not forecast an excessive demand on currency market ahead of payments on its foreign debt, the regulator said in comments on Russia’ foreign debt on its website.

Neither does the bank forecast a significant outflow of portfolio investment and a high demand on foreign currency to pay on import contracts.

According to the Central Bank estimates, of the total amount of payments on foreign debts of banks and financial organizations for the sum of $61 bln (including the main debt and interest) for the period from September to December 2015, actual payments can be up to $35 billion.

The remaining amount falls to the share of intragroup payments and liabilities with a high likelihood of prolongation and refinancing. This estimate is based on historical data and a survey of the largest companies, the regulator said.

Russia’s banking sector and non-financial organizations have accumulated foreign assets in liquid form worth about $135 bln, according to the Central Bank.

"Net incomings to the current account of balance of payments, which also serve as a source to fund repayment of foreign debt, will make about $ 28 billion, provided that the oil price is $60 per barrel, about $25 bln, if the oil price is $ 50 per barrel, and about $20 bln, if the oil price is $ 40 a barrel. Besides that, of the general limit of $ 50 billion set by the Central Bank for refinancing operations in foreign currency, the unused balance amounts to about $14 billion," - the regulator said.

Показать еще
In other media