Press Service

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

Press Service

12 Neglinnaya Street, Moscow, 107016 Russia;
www.cbr.ru

Information Notice

On USD/RUB sell/buy FX swaps

The Bank of Russia decided to start conducting USD/RUB sell/buy one-day FX swaps.

These operations are aimed at improving the capabilities of short-term FX liquidity management at credit institutions. The aforementioned operations will be conducted at fixed interest rates.

Exchange-traded USD/RUB sell/buy one-day FX swaps will be conducted by the Bank of Russia on terms of today/tomorrow and tomorrow/spot settlements. These transactions will be carried out with the use of available Moscow Exchange instruments.

Starting from 17 September 2014, the Bank of Russia establishes the following parameters for conducting USD/RUB sell/buy one-day FX swap transactions:

   
interest rate on the ruble leg Bank of Russia key rate less 1.00 percentage point — 7.00% p.a.
interest rate on the US dollar leg 1.50% p.a.
maximum allotment amount on FX swaps with today/tomorrow settlements US$1 billion
maximum allotment amount on FX swaps with tomorrow/spot settlements US$2 billion

16 September 2014

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