The Central Bank of the Russian Federation announced on August 9 local time that it will not purchase foreign exchange in the domestic market from August 10 to the end of 2023 in order to reduce financial market volatility.
The central bank stated that the decision to resume the foreign exchange purchase business in the domestic market will be made according to the actual situation in the financial market.
At the same time, the bank will continue to sell foreign exchange related to state welfare fund funds at a rate of 2.3 billion rubles per day in order to invest them in permitted financial assets.