March 9, 2020 / 6:28 AM / 23 days ago

Russian cenbank says suspends forex purchases for 30 days

MOSCOW, March 9 (Reuters) - Russian central bank said on Monday it has decided to not to buy foreign currency on the domestic market for 30 days.

The decision was announced as the rouble fell to its lowest since early 2016 following a steep decline in oil price, which went into a tailspin after global oil producers failed last week to agree on extension of production curbs.

Russia’s central bank also said it would revise the decision on forex buying depending on the market situation, while it stood ready to deploy additional tools to preserve market stability. (Reporting by Elena Fabrichnaya; writing by Vladimir Soldatkin; Editing by Kim Coghill)

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