Russian cenbank says wants rouble rate to be determined by market

© Reuters. FILE PHOTO: Russian 100-rouble banknotes are placed on a cashier’s desk at a supermarket in the Siberian town of Tara in the Omsk region, Russia, December 14, 2021. Picture taken December 14, 2021. REUTERS/Alexey Malgavko/File Photo

(Reuters) – The Russian central bank has imposed foreign exchange controls to support liquidity but aims to preserve market pricing principles and a rouble exchange rated determined by the market, the bank’s first deputy governor said on Friday.

Ksenia Yudayeva said the Russian economy and its financial sector were in good shape before Feb. 24, and now many companies were experiencing the need to find new suppliers and logistics.

The Russian financial sector and economy have taken a hit from sweeping western sanctions imposed over what Moscow calls a “special military operation” in Ukraine.

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