Russia's central bank says scraps limits on fx swaps from 2018

MOSCOW: The Russian central bank said on Friday it will scrap limits for foreign currency swaps it offers from 2018 as the situation on the domestic forex market has stabilised.

From Dec. 19, 2014 the central bank provided no more than $10 billion in foreign currency swaps.

The central bank also said it lowered a limit on its refinancing operations, including repo transactions and loans, in foreign currency to $15 billion from Jan. 1 as banks have no more outstanding obligations raised via such tools.

In 2017, this limit stood at $25 billion.