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Ruble Slides After Bank of Russia Says FX Buying May Resume

  • FX that wasn’t bought this year will be recouped ‘gradually’
  • Ruble drops most in emerging markets after earlier trading up
Bank Of Russia Governor Elvira Nabiullina News Conference
Photographer: Andrey Rudakov/Bloomberg
Updated on

Russia may resume foreign currency purchases that were put on hold earlier this year as soon as January, Central Bank Governor Elvira Nabiullina said, causing the ruble to slide the most in emerging markets.

“If the current situation on the financial markets continues, we think it will be possible to resume the regular purchases of foreign currency after the New Year holidays, from the 15th of January,” Nabiullina told reporters at the VTB Capital forum in Moscow Wednesday.