On Bank of Russia operations with regard to resumption of Reserve Fund accumulation

Starting from 11 April 2014, the Bank of Russia will conduct operations in the domestic foreign exchange market (with settlement on the next working day) taking into account that from 14 April 2014 the Ministry of Finance of the Russian Federation and the Federal Treasury will resume transferring funds denominated in foreign currencies to the Reserve Fund based on the results of 2013. In line with current exchange rate policy mechanism, the Bank of Russia will adjust its interventions by the amount of foreign currency purchased by the Federal Treasury from the Bank of Russia (Information Notice: On Bank of Russia operations on domestic FX market dated 1 October 2013).

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