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RUSSIA: CBR Won't Buy FX Under Budget Rule Until Year-End

RUSSIA
CEEMEAEM BulletRussiaBulletEmerging Market News
  • "The Bank of Russia has decided not to purchase foreign currency on the domestic foreign exchange market from November 28, 2024 until the end of 2024 as part of mirroring the regular operations of the Ministry of Finance of Russia related to the implementation of the budget rule. The decision was made in order to reduce the volatility of financial markets."
  • "At the same time, the Bank of Russia will continue, in accordance with the previously announced procedure, to conduct foreign currency sales operations on the domestic currency market related to the replenishment and use of the National Welfare Fund"
  • Full statement here.
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  • "The Bank of Russia has decided not to purchase foreign currency on the domestic foreign exchange market from November 28, 2024 until the end of 2024 as part of mirroring the regular operations of the Ministry of Finance of Russia related to the implementation of the budget rule. The decision was made in order to reduce the volatility of financial markets."
  • "At the same time, the Bank of Russia will continue, in accordance with the previously announced procedure, to conduct foreign currency sales operations on the domestic currency market related to the replenishment and use of the National Welfare Fund"
  • Full statement here.