The Bank of Russia not going to resume purchasing foreign currency on behalf of the Russian Finance Ministry even if the there is a decrease in volatility in the foreign exchange market, First Deputy Governor Ksenia Yudaeva said on Thursday.
ST PETERSBURG (Pakistan Point News / Sputnik - 20th September, 2018) The Bank of Russia not going to resume purchasing foreign Currency on behalf of the Russian Finance Ministry even if the there is a decrease in volatility in the foreign exchange market, First Deputy Governor Ksenia Yudaeva said on Thursday.
Earlier in the day, Russian Finance Minister Anton Siluanov said that the Bank of Russia may resume buying foreign currency on behalf of the ministry this year if the ruble continues to grow.
"The Bank of Russia of course makes tough promises rarely, but aptly. If the press release says that we suspend [purchase of foreign currency] until the end of the year, then we suspend it until the end of the year. Even if the volatility in the foreign exchange market decreases," Yudaeva told reporters on the sidelines of the Second Eurasian Women's Forum.
In 2019 the central bank may resume purchasing foreign currency, but the final decision will depend on the situation on the markets, the official underlined.
On September 14, the Bank of Russia said that it would suspend purchases of foreign currency on behalf of the Russian Finance Ministry until the end of December.
