The volume of non-resident investments in OFZs dropped to its lowest level since January 2017
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In August 2023, non-residents reduced the volume of investments in federal loan bonds by 34 billion rubles. (by 2.2%), to 1.522 trillion rubles, follows from the data (.xlsx) Bank of Russia. This is the minimum value since January 1, 2017.
According to the Central Bank, the share of non-residents in the volume of OFZ issues as of September 1 was 7.8%. On August 1, this figure was 7.9%. The value of this indicator at the end of August was the lowest since July 1, 2012, when the share of non-residents amounted to 6.5%. The total volume of OFZ issue in August decreased by 238 billion rubles, to 19.429 trillion rubles, follows from the Central Bank table.
According to Bank of Russia statistics, the share of non-residents in the OFZ market has been steadily declining since November 2022. In 2022, non-residents reduced the volume of investments in OFZs by 35.8% (by 1.104 trillion rubles). How reported Reuters agency in January 2023, non-residents sold OFZ at prices 25–70% below nominal.
About the situation with OFZ at the end of the quarter – in the Kommersant publication “The Ministry of Finance overpaid on small things”.
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