May issue of Money and Credit, the Bank of Russia’s monthly, released

This May 2016 Money and Credit issue features:

FX Interventions. International Practice and Intervention Efficiency

Sergey Moiseev, Director, Financial Stability Department, Bank of Russia, looks into the specifics of forex interventions as implemented by central banks across the globe.

The IMF estimates that sterilised interventions are conducted by no more than 20% of the central banks in emerging markets. However, the data provided in the article suggest that interventions in emerging markets can often prove more effective than those in advanced economies.

The publication highlights unique assessments of how Bank of Russia interventions fared in the period between 1997 and 2014.

On cash circulation in the Far-Eastern Federal District

Gennady Vishnyak, Deputy Chief, Far-Eastern Main Branch, Bank of Russia, gives an indepth account of the cash circulation specifics in the largest yet most sparsely populated Russian federal district. While the district’s area equals a third of the country, it is home to only 6 plus million people.

The research presents current statistics on key trends in cash circulation and anti-counterfeiting policies in each of the regions within the Far-Eastern Federal District.

Eurasian Development Bank (EABR ) as an Active Contributor to Integration Processes

EABR board chairman Dmitry Pankin in this exclusive interview speaks on the funding of development projects in the Eurasian region, the industrial structure of the bank’s investment portfolio and the new opportunities which may be open to Russian lenders and businesses through integration of the former Soviet Union countries.