Russia Investigates Potential Market Manipulation as Rouble Plunged on Media Rumour
Russia's central bank is investigating whether individuals were looking to manipulate the country's financial markets after a seemingly leaked report to a certain media outlet, related to rumours of capital controls, sent the rouble into a tailspin.
According to a report by Russian news agency Tass, the central bank will look into whether rumours over the country installing temporary capital controls, to prevent $100bn (£62bn, €79bn) leaving the region, was intended to move markets.
"The Bank of Russia, in order to ensure the fair pricing of financial instruments intends to analyse the situation for signs of market manipulation," said Tass, citing the central bank's press service.
On 30 September, citing two officials with direct knowledge of the discussions, Bloomberg said Russian authorities were mulling over putting in temporary capital controls to stop foreign investors pulling vast amount of cash out of the country.
The rumours sent the rouble plunging and the Russian Finance Minister Anton Siluanov has since said restrictions on capital and currency movements would be "absolutely unacceptable".
The Russian central bank also added that it was not considering possible capital controls and denied the contents of Bloomberg's report.
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