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Jan 24, 2020
Allegro passengers can save up to 64% on tickets
Jan 17, 2020
March Allegro tickets available with discounts of up to 44%
Jan 17, 2020
Passenger numbers between Russia and Finland reaches record high in 2019
Jan 13, 2020
International Allegro passenger numbers increase by over 15% in 2019
Jan 10, 2020
Loading volume of export goods to ports increased by 3.6% in 2019
Jan 10, 2020
Russian Railways Holding completes feasibility study on modernisation of Nagpur-Seunderabad stretch in India
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Risk Management
Market risks: exchange rates, interest rates and price

Market risks: exchange rates, interest rates and price

Russian Railways pays particular attention to market variables, which volatility could lead to significant changes in the Company's expenditures and revenues, in particular, floating rates on loans, cash flows in foreign currencies and fuel prices.

Hedging with Derivatives

Russian Railways uses derivatives to hedge currency, interest and price risks. Transactions are concluded with Russian and banks and the subsidiaries of largest international banks and are based on Russian ISDA. Our risk management policy excludes speculative risk management tools, as well as operations with unreliable counterparties. The risk management policy’s main aim is to reduce the volatility of budgeted indicators of the Company’s performance.

Open Currency Position

The significance of the Company’s currency risk and further definition of respective currency risk management tool are based on the size of the open currency position, which is defined as the difference between the inflows and outflows of the cash denominated in foreign currency.

The Company carries out regular monitoring and analysis of cash inflows and outflows in foreign currency to calculate its open currency position.

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