All news

Bank of Russia to reduce limit for daily currency swaps to $3 bln from July 17

MOSCOW, July 16. /TASS/. The Bank of Russia will reduce the limit for daily currency swap on dollar sales for rubles with ‘today’ settlements from $5 bln to $3 bln because of lacking demand for such operations, the press service of the regulator said on Thursday.

"The Bank of Russia made the decision to reduce the limit for daily currency swap transactions on sales of US dollars for rubles with ‘today’ settlements from $5 bln to $3 bln from July 17, 2020. There is no demand of credit institutions for such operations in conditions of the stable situation on money and currency market and currency liquidity volume remaining at a sufficient level in the banking sector," the Bank of Russia said.

The Central Bank continues keeping an eye on the situation on money and currency markets and will adjust the limit for currency swaps as needed, the regulator said.