Bank of Russia commentary on operations under fiscal rule

The Bank of Russia has decided to suspend foreign currency purchases in the domestic market under the fiscal rule for the period from 23 August 2018 till the end of September 2018. The decision is aimed at raising the predictability of monetary authorities' actions and lowering volatility in financial markets. The Bank of Russia will decide on the resumption of foreign currency purchases under the fiscal rule taking into account the actual state of financial markets in September 2018.

The Bank of Russia monitors the financial market and has ample instruments to prevent financial stability threats.