Support The Moscow Times!

Currency Swap Limits Lifted

The Central Bank said Monday that it stopped setting daily limits on currency swaps, which allow investors to make bets on the exchange rate without having to convert currency upfront.

The decision, effective Friday, is part of the regulator’s “alignment” of its refinancing instruments and monetary-policy goals, the bank said.

The regulator had restricted traders’ currency-swap operations every day since Oct. 20 to reduce speculative pressure on the ruble.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.