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Date: 6 months ago   Category: Finances

New sanctions and purchases of currency for the Ministry of Finance: how will the ruble react?


The Central Bank after more than week break buys currency again. On Wednesday, August 22, the USA has to enter the first block of new anti-Russian sanctions of the Photo: depositphotos.com Is updated 20:42centrobank after more than week break again buys currency for the Ministry of Finance. It follows from data on the regulator website. The Central Bank stopped purchases because of volatility in the market and sharp ruble depreciation after the announcement of the preparing new sanctions of the USA against Russia. The American State Department has reported about intention to introduce new restrictions late at night on August 8, and already next day the Central Bank has cut day purchases by half, and from August 10 to August 17 at all didn't carry out them. On Monday, August 20, the Central Bank has directed 17,5 billion rubles to acquisition of currency. It is unlikely all this will put the strong pressure upon ruble, the independent analyst Dmitry Stepanov:dmitry Stepanov the independent analyst "Considers the market now quite strongly has calmed down, and that dynamics on ruble which has passed earlier, will quite positively affect our economy because the financial period of 2018 comes to an end, it is even possible to sum up already some results, and, certainly, courses which were earlier, quite high on ruble and our economy. We receive some balance with ruble depreciation therefore the course [moves] to a normal situation, the Ministry of Finance makes a start from this normal situation and continues purchases. I believe that even if sanctions wouldn't be imposed probably the ruble all the same would be under pressure and decrease it is simple that the Central Bank would continue to reduce an interest rate more aggressively. He has suspended the work on decrease in a rate, respectively, the balance has appeared in such artificial way thanks to sanctions. What we observe [has] quite planned character, I think that investors shouldn't worry or specially in the current situation to buy or sell currency". In April after introduction of the USA of sanctions against the Russian officials and business the Central Bank also temporarily stopped purchases of currency to stabilize ruble exchange rate, but then has made up for them. April and August decisions of the Central Bank are compared by the analyst of UK "Alpha Capital" Darya Zhelannova:darya Zhelannova the analyst of UK "Alpha Capital" "It is absolutely normal, natural situation: he acts approximately equally in the conditions of the aggravated geopolitical tension. However It should be noted that after all situations from the point of view of the same geopolitics different. At the moment it makes sense to speak about two packages of sanctions. The first will be costituted on August 22, the market knows about him. It is not such serious story for the Russian market as, first, it is difficult to say that it will influence all economy - it is more likely pressure tool, but from the point of view of economy of any serious sag we don't see. As for the second package of sanctions, the congress will return to his discussion only in September, and, what is the time will occupy by this, it is difficult to speak. There is a probability that it will last even prior to November congressional elections. Here remains неопр

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