Individuals on the Moscow Exchange bought a record amount of currency in July

On the Moscow Exchange in July, individuals updated the record for the purchase of foreign currency – they bought 237.1 billion rubles. more currency than sold. This is reported in the review of financial market risks prepared by the Central Bank of the Russian Federation (.pdf). The currency was bought through banks that transferred money to foreign accounts. At the same time, the balances on the accounts of individuals decreased by $3 billion.

“Significant net buyers of foreign currency on the Moscow Exchange in the second half of the month for the first time became individuals who increased the volume of net purchases from 176.1 billion rubles. in June to 237.1 billion rubles. in July, which was a record volume of net purchases for this category of participants. Foreign currency was acquired by them mainly through banks that made transfers to foreign accounts,” the review says.

Other banks (non-systemically important credit institutions, SZKOs) became the largest net buyers — they bought currencies in the amount of 319.6 billion rubles, including for importers. The volume of purchases of foreign currency by friendly non-residents, primarily banks from the EAEU, also increased markedly, the Central Bank noted.

The main suppliers of currency to the domestic market in July were SZKOs, which sold the proceeds of exporting clients. In the second quarter, the share of sales of foreign exchange earnings decreased slightly and amounted to 59% for the largest exporters against 78% in the first.

Julia Abugalieva

.

Be the first to read breaking news on OopsTop.com. Today’s latest news, and live news updates, read the most reliable English news website Oopstop.com

Leave a Comment