Russia's CBRF to resume regular forex operations under budget rule in 2025

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Russia's CBRF to resume regular forex operations under budget rule in 2025 - Business Standard

Quick Summary:

The sales of yuan are likely to weaken the Russian currency, which has been strengthening since Dec.19.

The bank said its first-half forex sales plan would run from Jan 9 - June 30, 2025.

Since Western sanctions imposed over Moscow's invasion of Ukraine have blocked Russia from using the dollar and euro, it has made FX interventions using China's yuan.