September 14, 2018 / 10:50 AM / a year ago

Russia suspends FX buying until end of 2018

MOSCOW, Sept 14 (Reuters) - The Russian central bank said on Friday it decided to extend a pause in foreign exchange purchases until the end of the year, reducing downward pressure on the rouble.

“The decision is aimed at raising the predictability of monetary authorities’ actions and lowering volatility in financial markets,” the central bank said, as it also raised rates for the first time since late 2014.

The central bank said it could resume FX buying for state reserves under Russia’s fiscal rule in 2019. (Reporting by Andrey Ostroukh Editing by Christian Lowe)

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