Central Bank Halts Forex Repo

By The Moscow Times

June 2, 2015

Russia's Central Bank halted its one-year foreign exchange repo because current market conditions do not require it, the bank's First Deputy Governor Ksenia Yudaeyva said on Tuesday.

The Central Bank stopped the one-year repo as of June 1.

Yudaeyva said that if a need arises, the Central Bank will bring back the tool. Russia's ruble has strengthened to around 30 percent to the U.S. dollar after falling by nearly half last year amid weak oil prices and Western sanctions over the Ukraine crisis.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue