15:39 - 10.08.2023

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The Central Bank of Russia announced a decision to suspend the purchase of foreign currency on the domestic market until the end of the year "to reduce fluctuations in financial markets."

The written statement of the Central Bank of Russia says that the bank will suspend the purchase of foreign currency on the domestic market from August 10 until the end of the year in accordance with the budget rule, ABC.AZ reports.

It was emphasized that the decision was made to reduce volatility in the financial markets, and it was noted that, depending on the situation in the financial markets, currency purchases could be resumed.

According to the Russian fiscal rule, when revenues from oil and natural gas decrease, currency is sold from the National Welfare Fund, and when incomes increase, currency is bought.