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Russia’s Central Bank sees no signs of currency market manipulation

December 17, 2014, 13:46 UTC+3 MOSCOW
The Moscow Exchange reported on December 16 it had no instruments to suspend trade on the currency market as compared with the stock market
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Currency exchange rates in Moscow, 16 December 2014

Currency exchange rates in Moscow, 16 December 2014

© Ilya Pitalev/TASS

MOSCOW, December 17. /TASS/. Russia’s Central Bank is not considering suspending foreign currency trade and sees no signs of currency market manipulation, Central Bank Deputy Chairman Vladimir Chistyukhin said on Wednesday.

The Moscow Exchange reported on December 16 it had no instruments to suspend trade on the currency market as compared with the stock market. “There is no such instrument. We can only introduce a discretionary auction when there are deviations on the stock market,” the bourse’s press office said.

Russia’s Central Bank is carefully investigating all the cases of manipulation on the financial market, including on the foreign exchange market, Chistyukhin said.

“If we see signs of manipulation, we have mechanisms of influencing market participants but let me repeat again that this must not simply be information on horse-racing bets. This must involve confirmed signs of manipulation. As of today, we don’t have such information,” the Central Bank official said.

The Russian Central Bank’s staff investigating the instances of financial market manipulation may be increased in the future but at this stage this issue is not under consideration, he said.

“At present, the staff is enough. The employees have a serious workload but they can do their work normally,” Chistyukhin said.

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