"The Bank of Russia has decided not to purchase foreign currency on the domestic market from August 23 until the end of September 2018 as part of an implementation of the budget rule mechanism. Such a decision has been taken to increase the predictability of actions of monetary authorities and reduce the volatility of financial markets," the bank's statement read.
According to the regulator, the decision on resuming purchases of foreign currency would be made based on the situation in financial markets in September.
"We remind you that we, as always, monitor the situation on the financial market and have enough tools to prevent threats to financial stability," the statement read.
Earlier in August Russian ruble sank to multi-month lows in early on Moscow Exchange after the US had announced a new string of sanctions against Moscow, which included, among other things, a ban on supplies of dual-purpose electronic devices and components to Russia.
Apart from these measures, in late July some US senators a new US sanctions bill, which specifically aims to block dollar-denominated transactions by Russian banks and US nationals' operations with the country's sovereign debt.