Russian Central Bank could conduct OTC operations under fiscal rule if yuan risks materialize

MOSCOW. July 26 (Interfax) - The Central Bank of Russia could conduct operations within the fiscal rule and on the over-the-counter market if risks with the yuan are realized, Central Bank Governor Elvira Nabiullina said at a press conference on Friday.

"As for our operations within the fiscal rule, we can conduct them on both the exchange and on the over-the-counter market. This will not affect the exchange rate in any way. If these risks materialize, then we will explain the specific mechanism, but I can say that we are ready to do this on the over-the-counter market," Nabiullina said when answering about the procedure for conducting operations within the fiscal rule if the Moscow Exchange's correspondent relations with banks from China are completely terminated.