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Business & Finance

Russian central bank will not make forex interventions on June 24, July 1

  • It has been carrying out forex sales since early March, its first such interventions in five years, to support the rouble, which was hit by the spread of the novel coronavirus and sliding oil prices.
  • The central bank, which reveals the amount of for
Published June 5, 2020

MOSCOW: Russia's central bank on Friday said it would not conduct foreign currency interventions on June 24 or July 1 as those days have now been made public holidays.

It has been carrying out forex sales since early March, its first such interventions in five years, to support the rouble, which was hit by the spread of the novel coronavirus and sliding oil prices.

The central bank, which reveals the amount of forex sales with a two-day lag, on Friday said it had sold 11.3 billion roubles ($164.6 million) worth of forex on Wednesday.

The Moscow Exchange has said that trading will not be conducted on those days.

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