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https://www.rt.com/business/455566-russia-international-reserves-gains/
Russia adds $2.4 billion to its foreign exchange reserves in one week
Published time: 4 Apr, 2019 15:03 Edited time: 4 Apr, 2019 15:24
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FILE PHOTO © Global look Press / Gennadii Khameliyanin
The gains soared thanks to proceeds from issuing international sovereign bonds, purchases of foreign currencies, and gold monetization, the regulator said in a statement on Thursday.
The recent growth brings the reserves’ gains to $7 billion during the period from March 15 to March 29. Russia’s international reserve funds have been steadily rising, adding a total of $21 billion since the beginning of the year, the central bank’s figures show. Russia’s reserves saw a significant boost of 8.3 percent last year, surging for third consecutive year.
Also on rt.com Russian sovereign bonds selling like hotcakes as demand breaks all-time record
While the country has been increasing foreign exchange reserves, its external debt fell by $64.4 billion or 12.4 percent from the beginning of last year to the lowest level in a decade, the Central Bank of Russia said in January. In February, Russian President Vladimir Putin announced that the funds fully cover foreign debt for the first time in history.
READ MORE: As US piles on sanctions, foreign investors pour more money into Russia
Meanwhile, foreign investors are continuing to show increased interest in Russian companies’ stocks. Earlier this year, the central bank announced that non-Russian residents spent $576 million buying shares in Russian companies, setting a five-year record.
For more stories on economy & finance visit RT's business section
https://www.rt.com/business/455562-russia-sovereign-debt-record-demand/
Russian sovereign bonds selling like hotcakes as demand breaks all-time record
Published time: 4 Apr, 2019 14:52
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© Sputnik / Ekaterina Chesnokova
Following the results of two auction sessions, the Russian Ministry of Finance raised 83 billion rubles ($1.26 billion). However, the figure failed to reach the 91.4 billion rubles reached on March 13, when demand for Russia’s ruble-denominated domestic OFZs reportedly hit an all-time high.
Also on rt.com Just business: British & US investors gobble up Russian government bonds
On Wednesday, total bids received from investors for the bonds amounted to 145 billion rubles ($2.2 billion), more than half as much as the Finance Ministry raised a week ago, and 800 million rubles more than investors purchased on average during abnormally active sessions during mid-March.
The share of foreigners investing in Russia’s sovereign debt is back to 30 percent, with the Finance Ministry reportedly planning to increase the number of bonds on offer this year and even double the overall year-on-year issues.
From March through January, foreign investors gobbled up 249 billion rubles ($3.8 billion) in Russian bonds, half of all the bonds on offer, according to the latest report released by the Russian central bank.
Also on rt.com Russiagate hysteria lives on: Election meddling sanctions bill has its day in the Senate
“A significant part of the inflow of foreign capital was targeted at the state bond market. In January, February and March, foreign investors bought securities worth 64 billion rubles, 88 billion rubles and 97 billion rubles respectively,” the regulator said earlier this week.
The unprecedentedly strong demand shows that investors do not anticipate tougher US sanctions against Russia’s financial sector, according to Dmitry Gritskevich, chief analyst at the Investment Department at Promsvyazbank, as quoted by Finanz.ru.
Also on rt.com Russia calls latest US sanctions ‘just another schizoid story’
Earlier this week, US senators proposed a new bill dubbed the “Deter Act,” seeking to stop Russia from meddling in US elections by threatening stiff punitive measures against the country’s banking, energy and defense sectors, along with sovereign debt. The act is also aimed at cutting Russian financial institutions, including Sberbank, VTB, Gazprombank, Vnesheconombank and Rosselkhozbank from dollar operations.
However, the new sanctions won’t reportedly be applied automatically. According to the proposal, mandatory sanctions are to be imposed within 10 days only if the US Director of National Intelligence (DNI) reveals Russian interference with elections in the US
For more stories on economy & finance visit RT's business section
Russia adds $2.4 billion to its foreign exchange reserves in one week
Published time: 4 Apr, 2019 15:03 Edited time: 4 Apr, 2019 15:24
Get short URL
FILE PHOTO © Global look Press / Gennadii Khameliyanin
- 128
- 1
The gains soared thanks to proceeds from issuing international sovereign bonds, purchases of foreign currencies, and gold monetization, the regulator said in a statement on Thursday.
The recent growth brings the reserves’ gains to $7 billion during the period from March 15 to March 29. Russia’s international reserve funds have been steadily rising, adding a total of $21 billion since the beginning of the year, the central bank’s figures show. Russia’s reserves saw a significant boost of 8.3 percent last year, surging for third consecutive year.
Also on rt.com Russian sovereign bonds selling like hotcakes as demand breaks all-time record
While the country has been increasing foreign exchange reserves, its external debt fell by $64.4 billion or 12.4 percent from the beginning of last year to the lowest level in a decade, the Central Bank of Russia said in January. In February, Russian President Vladimir Putin announced that the funds fully cover foreign debt for the first time in history.
READ MORE: As US piles on sanctions, foreign investors pour more money into Russia
Meanwhile, foreign investors are continuing to show increased interest in Russian companies’ stocks. Earlier this year, the central bank announced that non-Russian residents spent $576 million buying shares in Russian companies, setting a five-year record.
For more stories on economy & finance visit RT's business section
https://www.rt.com/business/455562-russia-sovereign-debt-record-demand/
Russian sovereign bonds selling like hotcakes as demand breaks all-time record
Published time: 4 Apr, 2019 14:52
Get short URL
© Sputnik / Ekaterina Chesnokova
- 236
- 1
Following the results of two auction sessions, the Russian Ministry of Finance raised 83 billion rubles ($1.26 billion). However, the figure failed to reach the 91.4 billion rubles reached on March 13, when demand for Russia’s ruble-denominated domestic OFZs reportedly hit an all-time high.
Also on rt.com Just business: British & US investors gobble up Russian government bonds
On Wednesday, total bids received from investors for the bonds amounted to 145 billion rubles ($2.2 billion), more than half as much as the Finance Ministry raised a week ago, and 800 million rubles more than investors purchased on average during abnormally active sessions during mid-March.
The share of foreigners investing in Russia’s sovereign debt is back to 30 percent, with the Finance Ministry reportedly planning to increase the number of bonds on offer this year and even double the overall year-on-year issues.
From March through January, foreign investors gobbled up 249 billion rubles ($3.8 billion) in Russian bonds, half of all the bonds on offer, according to the latest report released by the Russian central bank.
Also on rt.com Russiagate hysteria lives on: Election meddling sanctions bill has its day in the Senate
“A significant part of the inflow of foreign capital was targeted at the state bond market. In January, February and March, foreign investors bought securities worth 64 billion rubles, 88 billion rubles and 97 billion rubles respectively,” the regulator said earlier this week.
The unprecedentedly strong demand shows that investors do not anticipate tougher US sanctions against Russia’s financial sector, according to Dmitry Gritskevich, chief analyst at the Investment Department at Promsvyazbank, as quoted by Finanz.ru.
Also on rt.com Russia calls latest US sanctions ‘just another schizoid story’
Earlier this week, US senators proposed a new bill dubbed the “Deter Act,” seeking to stop Russia from meddling in US elections by threatening stiff punitive measures against the country’s banking, energy and defense sectors, along with sovereign debt. The act is also aimed at cutting Russian financial institutions, including Sberbank, VTB, Gazprombank, Vnesheconombank and Rosselkhozbank from dollar operations.
However, the new sanctions won’t reportedly be applied automatically. According to the proposal, mandatory sanctions are to be imposed within 10 days only if the US Director of National Intelligence (DNI) reveals Russian interference with elections in the US
For more stories on economy & finance visit RT's business section