The Bank of Russia administration has decided to suspend the purchase of foreign currency on the Russian market until the end of the year.
This was reported on Wednesday, November 27, by the regulator’s press service.
From November 28 until the end of 2024, the Central Bank will not purchase foreign currency on the Russian market.
At the same time, the regulator will continue to sell foreign currency on the domestic market.
This measure, as the Central Bank emphasized, should take control of the situation with the dollar and euro exchange rates in the Russian Federation.
At the end of November, the American and European currencies rose sharply in price, breaking key psychological thresholds.
Thus, on November 27, on the over-the-counter market, the US dollar was trading at more than 110 rubles and subsequently reached 115 rubles. The European currency reached 120 rubles.
For reference
The Central Bank is an organization responsible for monetary policy.
Author: Dmitry Bobrov
