Home / Economy / Central Bank of Russia will Acquire 100 ML USD Daily

Central Bank of Russia will Acquire 100 ML USD Daily

Russia’s Central Bank bought 200 ml USD on its internal currency market on May 26, the Russian news agency InterFax reported. In national currency the amount constituted 10,1 billion Rubles. Central Bank of Russia has been executing such operations since May 13. Local news agencies report that the Central Bank plans to acquire 100 ml USD on a daily basis.

These operations are aimed at enriching the Central Bank’s foreign reserves and thus strengthening the Ruble’s current position.Today, 1 USD is evaluated at 51,02 Rubles and 1 Euro costs 55,68 in Russian Rubles, according to the Central Bank’s data.

Experts expect the Central Bank’s daily acquisitions of 100 mln USD to strengthen the Ruble’s position in the long-term, writes local newspaper Vedomosti.ru.

Ruble’s position in turn affects the global price of oil; July Futures of Brent Crude were valued at 62, 52 USD per barrel today, which indicates a trend of a 0,42 USD increase, Bloomberg reported. Brent Crude’s prices are already increasing on the global market due to the US raw material data prognosis.

 

Nino Gojiashvili