All news

Bank of Russia resumes regular fiscal rule-based operations with currency on January 9

From January 15 to June 30, 2025, the Central Bank will buy or sell foreign currency based on the amount of fiscal rule-based operations announced every month by the Finance Ministry

MOSCOW, January 9. /TASS/. The Bank of Russia has resumed regular operations under the fiscal rule on the domestic foreign exchange market, which were suspended from November 28, 2024, starting January 9, 2025.

Considering the amount of fiscal rule-based foreign currency purchases in the period from December 6, 2024 to January 14, 2025 (5.45 bln rubles per day) announced by the Russian Finance Ministry, the regulator will carry out net sales of foreign currency in the amount of 3.41 bln rubles ($33 mln) per day. From January 15 to June 30, 2025, the Central Bank will buy or sell foreign currency based on the amount of fiscal rule-based operations announced every month by the Finance Ministry adjusted for the amount to be sold, totaling 8.86 bln rubles ($85 mln) per day.

At the end of June 2025, the regulator will publish information on the amount of the adjustment of regular fiscal rule-based operations in the second half of 2025 taking into account the finance ministry’s data on net National Wealth Fund’s (NWF) investment in ruble-denominated eligible assets in 1H 2025 and the amount of NWF resources spent on financing the federal budget deficit outside the fiscal rule in 2024.

The Bank of Russia did not buy foreign currency on the domestic foreign exchange market from November 28, 2024 until the end of last year in a move to reduce the volatility on financial markets.