March 06, 2023 09:03 GMT
Sale of Yuan From NWF To Be Reduced This Month
- The Ministry of Finance announced plans to reduce the sale of yuan from the NWF in the coming month to compensate for lost oil and gas revenues, Vedomosti report. The agency has planned for the volume of interventions to be RUB119.8b (RUB5.4b per day) until April 6, which is a quarter less than in the previous month. The reduction in intervention means that the expected volume of oil and gas revenues is returning to the base level - the value established by law.
- The yuan overtook the dollar as the most traded currency on the Moscow Exchange in February, Kommersant report.
- There are no major data releases or speaker events scheduled today. Looking ahead this week, CPI data (Est. +11.04% y/y, +0.53% m/m) is on the docket on Friday.