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Russia’s regulator to continue liquidity restraint policy to weaken speculative attacks

November 18, 2014, 16:56 UTC+3 MOSCOW

Central Bank Chief earlier said she saw no need for imposing legislative restrictions on speculators

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Russia’s Central Bank

Russia’s Central Bank

© TASS/Artiom Korotaev

MOSCOW, November 18. /TASS/. Russia’s Central Bank will continue its policy of restraining ruble liquidity to weaken speculative attacks on the ruble, the Central Bank press office said on Tuesday.

“We are not proposing any legislative restrictions on speculators as we deem it inexpedient,” the press office said.

“But we’ll continue limiting the provision of ruble liquidity through repo instruments and currency swaps as we declared before to weaken speculators’ attacks on the exchange rate,” the Central Bank said.

Central Bank Chief Elvira Nabiullina said in the lower house of Russia’s parliament earlier on Tuesday she saw no need for imposing legislative restrictions on speculators.

“To my mind, the imposition of legislative restrictions is inexpedient at this stage,” Nabiullina said in reply to a question about the possibility of using administrative measures in the struggle against speculators.

The ruble devaluation intensified considerably in the last week of October and the first week of November, which was driven by speculative sentiment on the foreign exchange market.

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