MOSCOW: The Russian central bank, which sells foreign currency on the market on behalf of the finance ministry, will not hold these regular operations during Russia's New Year holidays on Jan. 1-10, two sources familiar with the matter said on Thursday.
"We have non-working days until Jan. 11," said a source at the federal treasury. A source with the central bank confirmed there will be no FX sales under Russia's fiscal rule.
The Moscow Exchange where the central bank sells FX will be open on Jan. 4-6 and Jan. 8 before returning to a regular schedule from Jan. 11.
Daily FX sales since March have helped the rouble limit losses caused by a slump in oil prices, the coronavirus pandemic and fears of new sanctions against Russia.
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