Translation. Region: Russian Federation –
Source: Central Bank of Russia
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OFZ yields declined over the month amid a key rate cut and a softening signal about future regulatory actions. Meanwhile, the Russian Ministry of Finance increased the volume of OFZ placements at auctions to 701 billion rubles, while households continued to actively purchase them on the secondary market. As a result, OFZ purchases by individuals reached their highest level since June of last year, reaching 64.1 billion rubles.
Sectoral stock market indices moved in different directions, and the Moscow Exchange Index rose slightly by the end of February (0.6% m/m).
The ruble weakened slightly during this period, reaching 77.27 rubles per US dollar. Corporate currency sales generally increased, despite a decline in sales by major exporters. Demand for currency remained low compared to previous years. However, demand for swaps with the Bank of Russia temporarily increased in the money market.
Read more in the next issue. Review of Financial Market Risks.
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