Russia suspends buying forex to try to reduce market volatility: central bank

MOSCOW (Reuters) – The Russian central bank said it was suspending purchases of foreign currency from Thursday until the end of September to try to reduce volatility on financial markets.

The bank, which buys forex for state reserves on behalf of the finance ministry, made its announcement after the rouble hit its lowest level against the dollar in more than two years.

It said in a statement it had enough tools to head off threats to financial stability and would decide whether to resume forex buying after reviewing the situation on financial markets in September.

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