The Russian Central Bank suspends foreign currency purchases until the end of the year – Meduza

The Russian Central Bank will refrain from buying foreign currencies on the domestic market from November 28 until the end of 2024. According to the bank’s press release, this decision was taken “to reduce volatility in financial markets” and is being implemented “in accordance with Russia’s regular activities of the Ministry of Finance” under fiscal tightening measures.

At the same time, the Central Bank will continue to sell foreign currencies as part of replenishing and utilizing the resources of the National Wealth Fund.

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