Central Bank of Russia to return to dollar by the end of the year, Andrey Klepach says

According to Vnesheconombank Deputy Chairman Andrey Klepach, the Central Bank of Russia may cancel the moratorium on purchasing of the dollars at the domestic market by the end of the year.

"This is justified, because it is an additional demand for the currency in the context of a depreciation of the ruble. I think, if the situation is stable in November, the operations will be resumed by the end of the year, " TASS quotes him as saying.

Andrey Klepach also pointed out that the principles of the budget rule "do not take into account the fact that even when the oil price is $ 70 per barrel instead of $ 40, it always makes sense to buy currency and increase the foreign exchange investments in the form of the National Welfare Fund as the situation on the market can become completely different. "