Press Service

The Central Bank of the Russian Federation (Bank of Russia)

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;

Fiscal rule-based foreign currency sales in context of planned purchase of Sberbank shares using NWF resources

The Bank of Russia has decided that the sale of foreign currency in the domestic market, which the Bank of Russia will purchase from the National Wealth Fund (NWF) under the fiscal rule in connection with the purchase of Sberbank shares using the NWF’s resources, will progress evenly over three to seven years after the transaction is closed. The Bank of Russia will announce the daily volume of foreign currency sales in the domestic market associated with this transaction and the start date of these sales after determining the value and date of the transaction to acquire Sberbank shares using the NWF’s resources.

The Bank of Russia retains the right to suspend fiscal-rule based foreign currency purchases (sales) in the domestic market should a threat to financial stability arise.

11 February 2020

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