Russia's Central Bank will not buy currency on the domestic market from August 23 to the end of September 2018 in order to reduce volatility, the regulator reports.
"The Bank of Russia decided not to purchase foreign currency on the domestic market as part of the implementation of the budget rule mechanism from August 23, 2018 until the end of September 2018," the Central Bank said.
"This decision was made to increase the predictability of the actions of monetary authorities and reduce the volatility of financial markets. The decision to resume the purchase of foreign currency as part of implementation of the budget rule mechanism will be made taking into account the situation in the financial markets that will be observed during September 2018," TASS cited the regulator as saying.
The Central Bank added that it is monitoring the situation on the financial market and has enough tools to prevent a threat to financial stability.