The Central Bank will reduce foreign currency sales on the market by 12 times – Kommersant

Ministry of Finance in April will direct for the purchase of foreign currency and gold, 11.2 billion rubles each. daily. The Bank of Russia will mirror these operations on the domestic market, selling an additional 11.8 billion rubles. every day. Thus, as I noticed RBCthe volume of net sales of foreign currency on the domestic market will be 600 million rubles, or 12 times less than a month earlier.

According to the forecast of the Ministry of Finance, in April the expected volume of additional oil and gas budget revenues will amount to 128.3 billion rubles. For March, the deviation of actual income received from the forecast amounted to 107 billion rubles. The reason is the excess of actual revenues from the additional income tax at the end of 2023 over the expected volume.

“Thus, the total volume of funds allocated for the purchase of foreign currency and gold is 235.3 billion rubles,” the Ministry of Finance said. In March, the Ministry of Finance carried out daily transactions worth 4.7 billion rubles, and the net sales volume from the Central Bank amounted to 7.1 billion rubles. Thus, compared to the previous month, the figure decreased by almost 12 times.

In February, the Ministry of Finance returned to purchases of foreign currency and gold. In January and the first week of February, the Ministry of Finance, on the contrary, sold foreign currency due to a lack of additional oil and gas revenues. In February, after two months of “shortfall,” oil and gas budget revenues were above the baseline level, amounting to 946 billion rubles.

More details in the material “Oil and gas revenues grew as mistakes were corrected”.