Central Bank of Russia stopped buying foreign currency to replenish international reserves of the country, a move that could lay the groundwork for a decrease in interest rates for the fifth time this year during a meeting Friday.
Operations were suspended due to "growth market volatility of the local currency," said the regulator in a statement on its website today.
Russia's central bank also said that purchases of foreign currency have been reduced to $ 160 million on Monday from $ 200 million a day last week.
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