Bank of Russia pauses repo transactions

Central bank increases forex surcharge amid signs of strains on banking liquidity

Bank of Russia
The Bank of Russia

Russia’s central bank announced more emergency measures, including suspending repo auctions to banks for two days and increased the foreign exchange transaction surcharge.

The Bank of Russia announced today (March 4) that it would not carry out its repo auctions on March 5 and 7. “The execution of repo transactions concluded on March 4, 2022 will be carried out on March 9, 2022,” it said.

The central bank announced large scale liquidity operations on February 24, after Russian began invading

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