Investment in OFZ by nonresidents down 80% in Oct as ruble weakens, interest in emerging markets dwindles - Central Bank
MOSCOW. Nov 16 (Interfax) - Investment by nonresidents in Russian federal loan bonds (OFZ) fell 80% in October as the ruble weakened and demand for emerging markets assets declined, the Central Bank said in comments on liquidity.
"Interest from foreign investors in Russian assets continued to decline, especially at the end of the month amid ruble depreciation. This was partially due to a general decline in interest for emerging markets assets," the document said.
Net purchases of OFZ by non-residents on the exchange totaled 14.2 billion rubles in October, down from 74.8 billion rubles in September. "The fall in demand from non-residents was offset by domestic investors: non-bank organizations and collective investors," the Central Bank said.