Support The Moscow Times!

Central Bank Has No Plans to Limit Currency Swaps

The Central Bank is not planning to introduce any limitations on currency swaps in conditions of a liquidity deficit, bank head Elvira Nabiullina said on Thursday.

"Limits were introduced on currency swaps during the 2008-2009 [financial] crisis and market participants are probably worried that we may do this again now ... We believe that in the conditions of a market deficit, this instrument would hold and manage percentage rates so that they remained within the percentage corridor," Nabiullina said during a forum at Moscow's stock exchange.

She said that the volume of currency swaps has grown, but the Central Bank is not concerned.

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.