Central Bank of Russia (CBR) President Elvira Nabiullina (pictured) stated on Wednesday addressing the State Duma that although the bank has started relaxing currency control measures, they cannot be "completely" removed at this time.
As the sanctions against Moscow are making "cross-border payments difficult," the currency controls are there to safeguard against these sanction pressures, she explained. Nabiullina added that at the same time, these measures are aiming to "interfere with foreign economic activity as little as possible."
Meanwhile, commenting on consumer prices, the central bank head shared that in March, annual inflation in the country was under 4% and is expected to fall even further in April.
