The Central Bank of Russia will suspend currency purchases until the end of the year – Meduza

The Central Bank of Russia will refrain from purchasing foreign currency on the domestic market from November 28 until the end of 2024. According to the bank’s press release, this decision was made “to reduce the volatility of the financial market” and is being implemented ” according to the Russian one. The regular operations of the Ministry of Finance” within the fiscal tightening measures.

At the same time, the Central Bank will continue to sell foreign currency as part of replenishment and use of funds from the National Wealth Fund.

The decision to resume operations on the domestic foreign exchange market will be taken by the regulatory authority “based on the existing situation on the financial markets”. “The deferred purchases will be carried out in 2025,” the Central Bank said.