Russian financial markets remain stable in February
OFZ yields declined month on month, as the regulator cut the key rate and adopted a more dovish tone when announcing its further steps. The Russian Ministry of Finance increased OFZ placements at auctions to ₽701 billion, while households continued to actively purchase them in the secondary market. As a result, OFZ purchases by households reached ₽64.1 billion, i.e. the highest level since June 2025.
Sectoral stock indices were changing diversely, while the MOEX Russia Index edged up by 0.6% MoM as of the end of February.
Over this period, the ruble slightly weakened against the US dollar to ₽77.27. Foreign currency sales by companies went up overall, despite a decline in sales by major exporters. Demand for foreign currency remained low compared to previous years. Contrastingly, the money market saw a temporary rise in demand for swaps with the Bank of Russia.
More details are available in the new issue of the Financial Market Risks Review.