4 Apr 2014 15:01

MinFin to peg FX purchases on market to bi-currency corridor

MOSCOW. April 4 (Interfax) - The Russian Finance Ministry's foreign currency purchases on the market will be pegged to the bi-currency corridor, Deputy Finance Minister Alexei Moiseyev told reporters.

"There won't be a rate, it'll be pegged to the corridor," Moiseyev said.

The said the ministry's schedule of action on the currency market ought to be ready by Monday.

"The regime is the same in the base scenario, it will change in the event of turbulence," he said.

Moiseyev said that in the event of turbulence, the Finance Ministry might change the volumes of its operations or abandon them altogether. In the event of turbulence, approximation to the bi-currency basket corridor's boundaries may be considered, for example.