Russia Ends Foreign Currency Purchases in Boost for Easing

Russia’s central bank halted purchases of foreign currency to replenish the country’s international reserves, a move that may lay the groundwork for a fifth interest-rate cut this year at a meeting on Friday.

The operations were suspended on July 28 as a result of “growth in volatility on the domestic currency market,” the regulator said in a statement on its website Wednesday. It said currency purchases were reduced to $160 million on Monday from $200 million a day last week. The ruble appreciated as much as 1.4 percent after the announcement, before paring gains.