“From November 28 until the end of 2024, the Central Bank of the Russian Federation will stop buying foreign currency on the domestic currency market.”, — write: epravda.com.ua
From November 28 until the end of 2024, the Central Bank of the Russian Federation will stop buying foreign currency on the domestic currency market. This was reported by The Moscow Times with reference to the press service of the CBR. This decision was made “in order to reduce the volatility of financial markets” and is carried out “within the framework of mirroring the regular operations of the Ministry of Finance of Russia, related to the implementation of the budget rule.” Before that, including purchases, the Central Bank sold foreign currency worth 4.3 billion rubles ($43 million) per day. Advertisement: At the same time, the Central Bank will continue foreign currency sales operations as part of the replenishment and use of funds from the National Welfare Fund. Advertisement: The decision to resume operations on the domestic currency market will be made by the regulator “taking into account the situation on the financial markets.” “Deferred purchases will be made during 2025,” the Bank of Russia announced. The official euro exchange rate set by the Central Bank of the Russian Federation on November 28 is 113.0947 rubles, the dollar exchange rate is 108.0104 rubles, and the yuan exchange rate is 14.8382 rubles. We will remind: the Russian ruble has decreased by more than 24% since the beginning of August, when its fall began, and may continue to weaken. New US sanctions against Russian banks led to a further fall in the ruble, putting at risk the last channels of direct foreign currency inflows into the country.
