The bank added:
Moreover, the official EUR/RUB exchange rate will be set in the same manner as the official exchange rates of other foreign currencies against the ruble. This will simplify the procedure for setting and publishing official exchange rates.
Sanctions on Russia
Russia’s central bank is trying to defend the country’s economy from the massive sanctions imposed from the Western counties in response to Moscow’s invasion in Ukraine.
The value of the ruble against the US dollar has fallen over 30% in a week. Several banks were banned from using the SWIFT global payments messaging system. To save the value of its currency and maintain its foreign currencies reserves, it has even suspended the sale of foreign currencies withing the country.
The Moscow Exchange has been closed for two weeks already and it looks like it will remain closed for this week, as well.
