In the first quarter of this year, Russians reduced their foreign exchange purchases from the stock market. The volume of the purchased currency fell from 390 billion rubles. (in ruble equivalent) reached 265 billion rubles in the fourth quarter of last year. In January-March, should From the “Overview of the main indicators of professional participants in the securities market” of the Central Bank of the Russian Federation.
According to the Central Bank, the volume of foreign exchange purchased in the January-March period was at its lowest level since the first quarter of 2022. At the same time, purchases of US dollars and euros decreased from 381 billion to 231 billion rubles, while purchases of yuan and other currencies and precious metals rose from 9 to 25 billion rubles.
As noted in the review, the Russians transferred the purchased currency mainly to foreign accounts, including for the payment of goods and services.
The regulator explained that the decrease in the volume of the purchased currency occurred against the background of the weakening of the ruble. From January 1 to April 5, the dollar rose more than 10% against the ruble, the yuan rose about 13% and the euro 16%.
“On their (individuals – socialbites.ca) side, the decline in demand for foreign currency had a countercyclical effect on the exchange rate vis-a-vis the decline in exporters’ foreign exchange revenues,” the review says.
According to the Central Bank, the volume of purchases of dollars in the first quarter of 2022 fell by 216 billion rubles, the euro – increased by 12 billion rubles. The volume of purchases of precious metals and yuan and other currencies was insignificant.