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Russia's Interventions on FX Market 'Compatible' With Inflation Targeting

An employee counts ruble, dollar and euro banknotes at a bank in Moscow.

ST PETERSBURG — Russia's Central Bank Deputy Governor Dmitry Tulin said Friday that interventions on the forex market were compatible with inflation targeting.

"Yes of course it's compatible," Tulin told a banking conference in Russia's second city of St. Petersburg. "Our interventions do not lead to uncontrolled changes in money supply and uncontrolled influence on the interest rates in the interbank market."

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