September 6, 2018 / 8:16 AM / in 7 months

Russian to resume forex buying if volatility eases in September

MOSCOW, Sept 6 (Reuters) - Russia’s central bank could resume regular purchases of foreign currency for the state reserves if market volatility subsides in September, Alexei Zabotkin, head of the central bank’s monetary policy department, said on Thursday.

The central bank last month halted purchases of foreign currency on behalf of the finance ministry until the end of September to ease pressure on the rouble.

Zabotkin said the central bank still saw a rate of between 6 and 7 percent as neutral, adding that monetary policy would remain moderately tight at least until 2019. (Reporting by Elena Fabrichnaya and Darya Korsunskaya Writing by Tom Balmforth Editing by Peter Graff)

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