Published: November 27, 2024 3:38 pm
Author: RT
The regulator will suspend its operations on the foreign exchange market to reduce ruble volatility
The Bank of Russia announced on Wednesday it will suspend US dollar purchases on the domestic foreign exchange from November 28 until the end of the year, to reduce market volatility.
The announcement came as the Russian currency slid to near-record lows, reaching 114 rubles against the US dollar on Wednesday.
The regulator also said it will continue to sell foreign currency to replenish the National Wealth Fund. In 2023, the volume of such operations amounted to 8.4 billion rubles ($74 million) per day, according to the central bank’s statement.
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