логотип компании
home Sitemapsitemap
Русский Jul 22, 2018 01:57
(GMT+3)
Latest news
Jul 16, 2018
Russian Railways and Chongqing ready to expand freight network from China to Europe
Jul 10, 2018
Passengers on RZD holding’s long-distance trains have bought about 65 000 Official Licensed Products of the 2018 FIFA World Cup Russia™
Jul 03, 2018
RZD Holding starts work on electrification of Garmsar to Ince Burun line in Iran
Jul 02, 2018
Passenger transport on the network owned by Russian Railways increased by 4.4% in June 2018
Jul 02, 2018
Loading on the network owned by Russian Railways increased by 3.1% in June 2018
Jun 26, 2018
Record number of free trains taking fans to matches at the 2018 FIFA World Cup Russia™ set on 24 June 2018
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=1

© 2003-2018, 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