Moscow Exchange sees no volatility spike from restart of state FX buying

By Elena Fabrichnaya

 

MOSCOW, Jan 11 (Reuters) - The Russian state's resumption of foreign currency purchases after many months should not increase forex market volatility, the head of the Moscow Exchange said.

The central bank will resume daily purchases of foreign currency for the state reserves on the exchange on Jan. 15, a move that has already put pressure on the rouble since it was announced in late November and one that is likely to limit room for the currency to strengthen.

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