The Bank of Russia and the National Bank of Kazakhstan signed a RUB/KZT swap line agreement on May 28, allowing both countries to access short-term liquidity in each other’s national currencies. The total amount available under the swap line is ₽35 billion or ₸225 billion. The agreement will be effective for three years, with transactions permitted for up to one year at market interest rates.
According to the announcement, the signing marks a milestone in further developing cooperation between the two central banks. The arrangement is intended to help both institutions perform their functions by providing access to necessary liquidity.
The Bank of Russia manages cash circulation and serves as the sole issuer of the Russian ruble, operating as a legally independent entity with federal property and exercising monetary authority apart from other government bodies, according to the official website. The institution aims to promote financial and price stability while fostering a competitive financial market. Its leadership includes a governor and deputy governors who oversee specialized departments. Official documents such as annual reports and financial analyses are published for public access by the Bank of Russia, according to the official website.
No additional details about operational procedures or specific use cases for this swap line were disclosed in the announcement.
