Central Bank of Russia sets second half 2026 domestic FX operations and July 1 to 6 purchases at ₽9.34 billion a day

The Central Bank of Russia has published its commentary on domestic foreign exchange market transactions for 1 July to 31 December 2026 linked to replenishing and using National Wealth Fund assets. In the second half of 2026, daily transaction volumes will be based on the Russian Ministry of Finance’s regular fiscal rule-based foreign currency purchase or sale amounts announced on the third business day of each month, adjusted for net investment from the National Wealth Fund into eligible ruble-denominated financial assets in the first half of 2026. That adjustment reflects net investment of ₽74.8 billion in the first half of 2026, which the central bank assumes will be distributed evenly through the second half of the year at ₽0.58 billion per day. On that basis, and given the Ministry of Finance’s announced fiscal rule-based foreign currency purchases of ₽9.91 billion per day for 5 June to 6 July 2026, the Central Bank of Russia’s foreign currency purchases for 1 to 6 July 2026 will total ₽9.34 billion per day. The central bank also noted that in 2025 the Ministry of Finance did not use National Wealth Fund resources to cover the budget deficit outside the fiscal rule. At the end of December 2026, the central bank will publish the adjustment amount for regular fiscal rule-based operations in the first half of 2027, using the Ministry of Finance’s data on net investment from the National Wealth Fund into eligible ruble-denominated financial assets in the second half of 2026.