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Russian FinMin to launch FX swap by Sept - treasury official
March 14, 2017 / 12:33 PM / 8 months ago

Russian FinMin to launch FX swap by Sept - treasury official

MOSCOW, March 14 (Reuters) - Russian finance ministry plans to launch foreign exchange swap mechanism no later than September to place budget foreign currency leftovers in banks in exchange for roubles, an official with the federal treasury told reporters on Tuesday.

Stanislav Prokofyev, deputy head of the treasury, added that the finance ministry may place between $0.5 billion and $1 billion under the proposed FX swap mechanism.

Separately, the head of the treasury, Roman Artyukhin, said that the treasury - which is a part of the finance ministry - may start independently buying FX on the market without the central bank involvement from 2018. (Reporting by Darya Korsunskaya; writing by Katya Golubkova; editing by Vladimir Soldatkin)

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