логотип компании
home Sitemapsitemap
Русский Apr 26, 2019 01:37
(GMT+3)
Latest news
Apr 23, 2019
Russian Railways met in full all its obligations under the 2018 collective agreement
Apr 09, 2019
Allegro passenger numbers up by 18.8% in first quarter 2019
Apr 04, 2019
CEO Oleg Belozerov sums up Company’s work in first quarter
Apr 04, 2019
“The Long-Term Development Programme of Russian Railways contains all the necessary measures to solve the tasks in the Comprehensive Infrastructure Modernisation Plan,” says Company head Belozerov
Apr 03, 2019
Northern Latitudinal Railway will become test ground for the most advanced construction technologies
Apr 02, 2019
Loading volumes on the network owned by Russian Railways increased by 0.5% in March 2019
News archive
Home
Investor Relations
Debt and Lender Information
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.

screenRenderTime=0

© 2003-2019, Russian Railways
Mass Media Registration Certificate El. No. ФС77-25927
When using any material from the site reference to rzd.ru is obligatory

The Company | Passengers | Freight | Press Centre | Investor Relations | Contacts | Search