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 FX swap interest rates

Given the changes in foreign and domestic financial markets, the Bank of Russia decided to set the following interest rates on the FX leg of FX swaps starting 23 December 2016:

the interest rate on USD/RUB and EUR/RUB buy/sell FX swaps shall be equal to LIBOR rates on overnight loans in US dollars and euro, respectively (currently they stand at 0% p.a.),

the interest rate on USD/RUB sell/buy FX swaps with today/tomorrow and tomorrow/spot settlements shall be equal to LIBOR rates on overnight loans in US dollars plus 1.50 percentage points (currently they stand at 1.50% p.a.).

When establishing allotment amounts on USD/RUB sell/buy FX swaps, the Bank of Russia considers the financial market environment, and these allotment amounts can be increased on certain days against the current level.

19 December 2016

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