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MOSCOW, Aug 11 The suspension by the Bank of Russia of currency purchases under the budget rule aims to prevent an additional increase in market volatility, which may occur if the Central Bank switches to significant purchases of currency, said the deputy chairman of the regulator Alexei Zabotkin during a press conference.
“Again, the purpose of this decision is to prevent an additional increase in volatility that could occur if the Bank of Russia switches to significant currency purchases,” he said, speaking about the reasons for the suspension of foreign currency purchases under the budget rule.
On Wednesday, the Bank of Russia decided from August 10 until the end of 2023 not to buy foreign currency under the budget rule, but at the same time continue to carry out operations related to the NWF to sell foreign currency for 2.3 billion rubles a day. The decision to resume operations will be made taking into account the actual situation in the financial markets.