Net purchases of currency by individuals up almost 68% in March — Central Bank
According to the regulator, net purchases of foreign currency by individuals on the stock market and through largest banks in March grew to 121.8 bln rubles.
Net purchases of foreign currency by individuals soared by almost 68% in March compared with February, the Bank of Russia said in its financial market risks review on Monday. Meanwhile, as the ruble weakened in early April individuals shifted to currency sales.
Net purchases of foreign currency by individuals on the stock market and through largest banks in March grew - to 121.8 bln rubles, which is around 68% higher than in February (72.6 bln rubles), the Central Bank said, adding that part of foreign currency was acquired for further transfer of funds to foreign accounts.
"Meanwhile, individuals stick to countercyclical behavior on the forex market. As the ruble’s weakening accelerated in early April households shifted to sales of foreign currency for rubles," the regulator noted.
Source
Net purchases of foreign currency by individuals soared by almost 68% in March compared with February, the Bank of Russia said in its financial market risks review on Monday. Meanwhile, as the ruble weakened in early April individuals shifted to currency sales.
Net purchases of foreign currency by individuals on the stock market and through largest banks in March grew - to 121.8 bln rubles, which is around 68% higher than in February (72.6 bln rubles), the Central Bank said, adding that part of foreign currency was acquired for further transfer of funds to foreign accounts.
"Meanwhile, individuals stick to countercyclical behavior on the forex market. As the ruble’s weakening accelerated in early April households shifted to sales of foreign currency for rubles," the regulator noted.
Source