Bank of Russia starting foreign exchange intervention

The Bank of Russia has decided to start interventions in the foreign exchange market in order to stabilize the financial market, Report informs referring to the regulator’s message.

“In order to stabilize the situation on the financial market, the Bank of Russia has decided to start interventions in the foreign exchange market, expand the Lombard List, and conduct operations today to provide additional liquidity to the banking sector.”

The regulator will ensure the maintenance of financial stability and business continuity of financial institutions by using all the necessary tools.

“The Bank of Russia and financial organizations have clear action plans for any scenario,” the regulator said.