Russia's CBR says its ready to resume FX purchases next year

Russia's CBR says its ready to resume FX purchases next year

The Governor of the Central Bank of Russia Elvira Nabiullina sees current market conditions as fit to restart FX purchases off the market in January, news agencies reported citing Nabiullina's comments made during the VTB Bank’s Russia Calling! annual investment forum.

Previously in 2018 the CBR was using the Finance Ministry's extra oil revenues to buy currency off the open market. However, amid ruble volatility in August the CBR halted currency interventions and extended the pause until the end of 2018 in September's key interest rate policy decision, IntelliNews reported.

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