March 19, 2020 / 5:32 PM / 12 days ago

Russia's decision to start selling FX will help stabilise rouble -minister

MOSCOW, March 19 (Reuters) - The Russian central bank’s decision to start selling foreign currency will help stabilise the rouble, Finance Minister Anton Siluanov said on Thursday, as the currency traded near four-year lows it fell to as oil prices plunged.

Siluanov said inflation, the central bank’s key area of responsibility, was seen hovering near the 4% target this year.

The central bank will hold a rate-setting meeting on Friday as the rouble falls and the oil price crash and coronavirus pandemic increase risks to inflation and financial stability. (Reporting by Darya Korsunskaya; Writing by Andrey Ostroukh; Editing by Catherine Evans)

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