The bank also ordered to halt foreigners’ bids to sell Russian securities. The stock and derivatives market of Russia is to remain shut on Monday.
Russia would release 733 billion rubles ($8.78 billion) in local bank reserves in order to increase liquidity, the central bank said. Russian banks said significant amounts of cash had been withdrawn in a very short time.
Forex sell-off
The Russian finance ministry and the central bank said in a statement on Monday that domestic exporters are ordered to sell their foreign exchange revenues starting on February 28.