Central Bank of Russia

The Russian Central Bank's decision to halt foreign currency purchases on the domestic market came into effect following a sharp decline in the ruble, which fell to an alarming exchange rate of 113 rubles per dollar on Wednesday. The move aims to stabilize the currency amid heightened market volatility.

Russia and Türkiye are trying to remedy problems with bank transfers due to anti-Russian sanctions, TASS quoted Russian presidential spokesman Dmitry Peskov as saying.

The United States is focusing on Turkish banks that have integrated into Russia’s Mir payments system

Russia's Central Bank has drawn up a "risk scenario" under which oil prices will stay around $35 for the next three years, Governor Elvira Nabiullina said, an outcome that would severely dent Russia's chances of making a robust economic recovery.

Russian Central Bank chief Elvira Nabiullina said on June 4 it was too early to say the crisis is over in Russia after the economy was hit by Western sanctions and falling oil prices.   

?It?s premature to say that all the features of the crisis are over,? Nabiullina said at a bank congress in Russia?s second city of Saint Petersburg.

The Turkish Lira tumbled to a new record low today, down to 2.426 against the dollar upon the expectation of a forthcoming rate cut by the Central Bank and the Fed's announcement of a positive trend in the U.S. economy.

Banking authorities also say the rise in the U.S. dollar has triggered the surprising rate cut by the Russian Central Bank today.

Russia stepped up its defense of the ruble Dec. 17 as it sought to halt a run on the currency and stem the worst financial crisis of President Vladimir Putin's 15 years in power.

The rapid slide of the ruble is a "critical situation" and the Russian central bank will take additional measures soon, the bank's first deputy chairman Sergei Shvetsov said Dec. 16.
      
"The situation is critical. We could not imagine this in our worst nightmare a year ago," he was quoted by Interfax as saying.        

Russian President Vladimir Putin urged the central bank and government on Dec. 4 to take "tough action" to stop speculation on the ruble  after the currency hit new all-time lows this week.

Russia's central bank unexpectedly raised its main interest rate by a half point to 8.0 percent on Friday, warning that geopolitical tensions were increasing inflationary risks.