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Nabiullina said that the Central Bank will stop selling currency on the market

CBR will continue to sell the currency on the market in accordance with the budget rule and on the basis of instructions of the Ministry of Finance, and will return to buy when the conditions are appropriate, said the head of the Central Bank Elvira Nabiullina during a regular press conference on Friday.

The Bank of Russia makes foreign exchange transactions on behalf of the Ministry of Finance: the budget rule in the oil price above the upper limit cut-off (in 2020 is at 42.4 per barrel) the additional revenues of the budget is allocated for purchase of foreign currency and translated into the Bank accounts of Russia for the subsequent transfer to FNB. In cases when the price of oil is below a prescribed rule level